P. Devadass, J.

The first respondent, namely, Kotak Mahendra Bank Ltd., Chennai, in O.P.No.678 of 2010, aggrieved by the Fair Order and Decretal Order of the learned Single Judge dated 15.02.2012 setting aside the Arbitrator's award dated 04.05.2010, has directed this Original Side Appeal.

2. Let us notice the circumstances that led to the filing of this intra-Court Appeal.

3. Appellant is a Banking Company. It gives various kinds of loans. One of it is Property Loan. It is also known as Home Finance. On 29.12.2005, Respondents 1 to 6 (petitioners 1 to 6 in O.P.No.678 of 2010) were sanctioned a property loan of Rs.51 Lakhs. There are two modes of charging the interest. One is, fixed interest. The other one is, adjustable interest rate (AIR). However, there is concession of 1%. Under the second mode, the interest will remain fixed for 12 quarters, namely, for 36 months. Thereafter, the revision will take place. The respondents 1 to 6/borrowers have opted to the second mode. The interest is at 9.5% p.a. (10.5% p.a. less 1%). The loan is to be repaid in 60 monthly installments at Rs.1,07,110/-each commencing from 1.2.2006 to 1.1.2011. It is inclusive of the interest amoun