JUDGMENT

ARUIT PASAYAT, J. - Leave granted.

2. Challenge in this appeal is to the order passed by learned Single Judge of the Punjab and Haryana High Court dismissing the civil revision filed under Section 115 of the Code of Civil Procedure, 1908 (in short "the Code").

3. The background facts in a nutshell are as follows:

Under a hire - purchase agreement executed between the appellant (hereinafter referred to as "the financier") and Respondent I (hereinafter referred to as "hirer") possession of Truck No. HR 46 C 3689 was handed over to the hirer subject to compliance with the terms and conditions of the agreement. As per the terms and conditions stipulated in the agreement, the t hirer was to repay the total financed amount of Rs 9,24,000 in 33 monthly instalments of Rs 28,000 each. As per the agreement the first instalment was payable on 25 - 10 - 2000 and the last instalment was payable on 25 - 6 - 2003. In case of default in making payment of the monthly instalment the hirer was liable to pay delay charges. Clause 10 of the agreement which is relevant for the purpose of this appeal reads as follows:

"10. In case the hirer shall during the continuance of this agreement do or su