JUDGMENT

Tarlok Singh Chauhan, J. - The instant petition has been filed for grant of following substantive relief:

"that the impugned orders (Annexure P-3 dated 19.8.2016, Annexure P-5 dated 6.2./7.1.2020 and Annexure P-6 dated 29.6.2021) may kindly be quashed and set aside."

2. The petitioner stood guarantor for payment of loan amounting to Rs.5,55,000/- for none other than his son, Jagdish Kumar, respondent No.4. Since respondent No.4 defaulted in payment of the monthly installment of Rs.8500/-, therefore, the respondent-Bank resorted to the arbitration proceedings, wherein the petitioner stated that he was willing to pay principal amount of Rs.3,97,000/- as Rs.1,58,000/- has already been paid as margin money to the Bank before sanctioning of loan amount.

3. It is averred that the petitioner was surprised to go through the order passed by the learned Arbitrator on 19.8.2016, i.e. the date on which his statement was recorded, wherein the petitioner has been specifically held liable to pay principal amount of Rs.7,00,000/- along with simple interest @ 15% till 31.5.2018 and direction has been issued to the employer of the petitioner to deduct Rs.10,000/- per month from the salary and