JUDGMENT

Girish Kathpalia, J. This appeal, brought under Section 37(1)(c) of the Arbitration and Conciliation Act 1996 assails order dated 30.10.2021 passed by the learned District Judge (Commercial)-05, Central, Tis Hazari Courts, Delhi, whereby objection petition filed under Section 34 of the Act by the appellant were dismissed. Upon service of notice, the respondent no. 1 bank (claimant before the arbitral tribunal) entered appearance through counsel to oppose this appeal. But respondents no. 2 and 3 (the principal borrower and the successor of the now deceased co-guarantor before the arbitral tribunal) opted not to contest the appeal despite service of notice.

1.1. We heard learned counsel for the appellant and for the respondent no. 1 bank.

2. Briefly stated, circumstances leading to this appeal are as follows. On 14.10.1998, the present respondent no. 2 availed loan of Rs.2,90,000/- from the present respondent no. 1 co-operative bank for purchase of a new Ambassador car against hypothecation, for which the appellant and the now deceased father of the present respondent no. 3 stood guarantor. The present respondent no. 2 having turned defaulter, liability to repay the loan wit