KARTAR CHAND Vs. SHANKAR FINANCE CO

JUDGEMENT

(1.) THIS appeal is directed against the order passed by learned Additional District Judge, Jammu, on 19 -03 -1983, whereby application under Section 20 Arbitration Act for appointment of an arbitrator was granted by the court below. In view of the findings recorded by the trial court that since the dispute exists between the parties, therefore, in terms of arbitration clause contained in agreement -EXPRC, the dispute in question was referred to named arbitration Shri Dwarka Nath Gupta, Advocate, Raghunath Pura, Jammu, has been directed to enter upon reference and give his award within the statutory period of four months from the date of said order.

(2.) IN order to property appreciate and understand respective submission made on behalf of the parties, brief facts of the case need to be noticed:

(3.) AS per respondent No.1 (hereinafter referred to as the plaintiff) ,petitioner and Rattan Chand (hereinafter referred to as the defendants ) entered into an agreement with the former. In terms of the agreement entered upon between the parties, defendant No.1, Kartar Chand was provided finance by the plaintiff for the purchase of a truck bearing registration No. K&K -9506. This agreement was entered as far back as on 6 -11 -1970. Total amount for which the truck in question was financed was Rs. 11,430/ - and was repayable in monthly installments of Rs.635/ - starting from 15 -10 -1970. Since there was default in payment of the amount and on having been called upon to do the needful, defendant No. 1 failed to repay the amount, therefore, the necessity of filing the application under Section 20 of the Arbitration Act, out of which present appeal has arisen.