ORDER

Chandra Dhari Singh, J. (Oral)--The instant petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter "Arbitration Act") has been filed on behalf of the petitioners seeking the following reliefs:

"In light of the aforesaid facts and circumstances it is most respectfully prayed that the award dated 29.01.2020 passed by Sole Arbitrator Shri Anshul Garg, Advocate in Arbitration case titled Hero Fincorp Ltd. Versus M/s Mandal & Associates & Ors. being Case Ref. No. HFCL/AG/2019-20-007 be set aside and quashed for being totally non application of mind and against the public policy.

Pass any other orders or directions as may be deemed fit and proper in the circumstances of the case."

2. The learned counsel for the petitioners submitted that the respondent sanctioned a loan of Rs.3,64,21,000/- in favour of the petitioners vide Sanction Letter bearing reference No. 1779613 dated 28th February 2017. Subsequently, the parties entered into two Loan Agreements dated 28th February 2017 on mutually agreed and acknowledged terms and conditions for disbursement of first tranche of the loan of Rs.3,30,66,000/- of the said loan amount within 180 months along with inter