R.D. DHANUKA, J.

1. Admit. The respondents waive service. By consent of parties, matter is taken on board for final hearing. In view of the identical facts in all the eight petitions, by consent of parties all the petitions were heard together and are being disposed of by a common order.

2. The petitioner in each of the petition aforesaid was the original respondent in the arbitration proceedings whereas the respondents herein were the original claimants.

ARBITRATION PETITION NO. 304 OF 2014

3. I will first summarize the facts in Arbitration Petition No.304 of 2014 which is the main matter which has been argued by the learned counsel for the parties.

4. By this petition filed under section 34 of the Arbitration and Conciliation Act, 1996, (for short the said 'Arbitration Act'), the petitioner has impugned the arbtiral award dated 7th October, 2013 thereby allowing some of the claims made by the respondents. Some of the relevant facts for the purpose of deciding this petition are as under:-

5. Sometime in the month of December 2009 the petitioner approached the respondents for a loan in the sum of Rs.19,64,000/-for refinancing/purchasing the vehicle. The respondents sanctioned th