SHAMEEM KHAN Vs. TATA MOTORS FINANCE LIMITED

JUDGEMENT

(1.) Regard being had to the similitude of the controversy as all cases originate from the same cause of action, all these cases are taken together and heard analogously and decided by this common order. For convenience's sake, facts as narrated in A.A.No.39/2024 are taken into consideration.

(2.) Present appeal is under Sec. 37 of Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Act of 1996") against order dtd. 18/3/2024 passed by Commercial Court Gwalior whereby application preferred by appellant under Sec. 9 of the Act of 1996 is being dismissed.

(3.) Precisely stated facts of the case are that appellant runs transport business, for which he purchased the truck TATA 5530 SIGNA for which he received financial assistance of Rs.43,40,000.00 from Tata Motors Finance Limited (respondent No.1 herein). As per the terms of the loan agreement, he was required to pay total Rs.54,16,315.00 along with interest of Rs.10,76,315.00 in 60 regular monthly installments within the period from 17/2/2021 to 28/2/2026. It appears that regular monthly installments were paid by appellant for some time, According to appellant, he paid amount till July, 2023 and became defaulter in August, 2023 when he did not deposit the installment.