JUDGMENT :

The first petitioner availed a vehicle loan from the respondent, a finance company. The second and the third petitioners were the guarantors in the loan transaction.

2. Alleging that the petitioners committed default in repayment of the loan, the respondent recalled the loan and initiated arbitral proceedings against them.

3. The respondent filed application before the arbitral tribunal for taking possession of the vehicle IEMC 121819 involved in the loan transaction. The arbitral tribunal passed an order on 03.05.2019 for taking possession of the vehicle.

4. The respondent filed C.M.A.(Arb.) No.389/2019 in the District Court, Thrissur under Section 17(2) of the Arbitration and Conciliation Act, 1996 (for short 'the Act') for enforcing the aforesaid interim order passed by the arbitral tribunal.

5. As per the order in I.A. No. 3511/2019, the District Court appointed an advocate commissioner to take possession of the vehicle and to hand over it to the respondent. The Commissioner took possession of the vehicle and handed over the same to the respondent.

6. The petitioners filed an application as I.A.No.4032/2019 (Ext.P3) before the District Court for an order granting status qu