JUDGMENT :

The claimant is the appellant before this Court and the challenge is to the order setting aside the Arbitral Award passed by the Principal District Judge, Puducherry in Arbitration O.P.No.13 of 2016 dated 25.02.2020.

2. The brief facts preceeding the filing of this appeal are as follows:

The claimant had extended a personal loan of Rs.10,00,000/- to the 1st respondent. The loan agreement was entered into on 26.10.2013 between the claimant and the first respondent and his wife, the second respondent who had executed the same as a guarantor. As per the terms of the deed the sum extended as loan together with interest was repayable in 36 equated monthly installments (EMI) of Rs.41,550/- each and the 1st of the EMIs fell due on 10.12.2013.

3. In addition to the loan agreement, the respondents had also executed a promissory note and issued post dated cheques. After making some payment the respondents completely stopped paying the EMIs. The claimant would submit that the respondents did not come forward to clear their dues. In fact by letter dated 10.04.2015 issued to the respondents, the claimant had invoked the Arbitration Clause and had informed them about the appointment of th