AJOY KUMAR SAHA Vs. ASHOK LEYLAND FINANCE LTD

JUDGEMENT

(1.) 1. Leave is granted in terms of prayer (a) of the petition.

(2.) After hearing the parties and considering the application, we are however not inclined to grant any stay because of the view which we are going to take in the present matter.

(3.) It appears that the appellant who is a hirer in respect of 12 vehicles from the concerned financier being the respondent, made an application under section 9 of the Arbitration and Conciliation Act, 1996. The contention of the applicant before the Trial Court was that as the hirer was in a very bad financial position, leave may be granted to the appellant to liquidate the outstanding dues by easy monthly instalments.