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J. B. PARDIWALA, K. V. VISWANATHAN
Sri Lakshmi Hotel Pvt. Ltd. – Appellant
Versus
Sriram City Union Finance Ltd. – Respondent
JUDGMENT :
J.B. PARDIWALA, J.
1. Leave granted.
2. This appeal arises from the judgment and order passed by the Division Bench of the High Court of Judicature at Madras dated 07.01.2020 by which the original side appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (for short “the Act 1996”) filed by the appellants herein being O.S.A. No. 202 of 2019 came to be dismissed thereby affirming the order passed by the learned Single Judge dismissing O.P. No. 137 of 2015 preferred by the appellants under Section 34 of the Act, 1996, seeking to challenge the arbitral award.
A. FACTUAL MATRIX
3. Appellant no. 1, viz. M/s Sri Lakshmi Hotels Pvt. Limited, is a Private Limited company registered under the Companies Act, 1956. Appellant no. 2 viz. V.S. Palanivel is the Managing Director of appellant no. 1. Respondent no. 1 viz. Sriram City Union Finance Ltd. is a Non-Banking Financial Company (for short “the NBFC”). Respondent no. 2 viz. Mr. K. Balasubramanian is a retired District Judge who was appointed as the arbitrator and who had passed the arbitral award.
4. Appellant no. 1 through appellant no. 2 had availed a loan facility amounting to INR 1,50,00,000/- (Rupees One Crore an
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