RAM TRANSPORT FINANCE COMPANY LTD Vs. ROOP LAL

JUDGEMENT

(1.) The sole respondent has refused to accept the notice hence while treating him to be served legally and validly, he is proceeded against exparte.

(2.) The order under challenge has been passed by learned Civil Judge (Junior Division), Court No.2 Nalagarh, District Solan in an application under Section 8 of the Arbitration and Conciliation Act, 1996, (hereinafter referred to as 'the Act' in short), registered as CMA No.52-6 of 2016, whereby the application has been dismissed and the prayer to set aside the proceedings in the suit and to refer the dispute, brought to the Court by the respondent (hereinafter referred to as the plaintiff) to the Arbitrator, has been declined.

(3.) Petitioner herein is the defendant. Consequent upon the agreement Annexure P-5, the defendant-Company has financed a vehicle bearing registration No.64-2972. The money borrowed by the plaintiff from the defendant was to be returned in 57 installments during the period from 5.12.2012 to 5.8.2017. The plaintiff, however, failed to adhere to the provisions of the agreement, which has led in taking over the possession of the vehicle financed by the defendant, being hypothecated property. The plaintiff instead of adhering to the financial discipline by regularizing the loan installments has filed a suit for permanent prohibitory injunction restraining the defendant from taking over the possession of the vehicle.