MOOL CHAND Vs. H D F C BANK

JUDGEMENT

(1.) THE present appeal has been filed by the appellant-applicant challenging the order dated 10.7.2009, passed by the Additional District Judge (Fast-Track) No.7, Jaipur City,Jaipur,(hereinafter referred to as the lower court), in Misc. Application No.53/08 (131/07), whereby the lower court has dismissed the application of the appellant-applicant under Section 34 of the Arbitration and Conciliation Act, 1996( for short the said Act).

(2.) THE short facts giving rise to the present appeal are that the appellant-applicant had availed of the loan facility from the respondent bank for the purchase of vehicle being Truck No. AL 2214 to the extent of Rs. 4,20,000/-. It appears that the appellant did not make payment of the monthly installments regularly and therefore, the respondent bank had taken over the possession of the said truck. THE respondent thereafter also filed claim petition before the sole arbitrator as per the agreement entered into between the parties. On the notice having been received by the appellant-applicant, he also appeared before the sole arbitrator on 24.7.2006, and also filed reply on 30.6.2006. THEreafter the arbitrator made an Award on 15.1.2007, directing the appellant to pay a sum of Rs. 1,92,700/- to the respondent bank. Being aggrieved by the said Award, the appellant had approached the lower court by filing an application under Section 34 of the said Act, which came to be dismissed by the lower court, vide the impugned order dated 10.7.2009.