ORDER :

1. This Arbitration Original Petition was filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter called as “the Act”) to set aside the ex-parte arbitral award dated 30.08.2021 passed by the learned sole Arbitrator.

2. The petitioners borrowed a sum of Rs.4,77,014/- by virtue of the Loan-cum-Hypothecation Agreement dated 27.11.2019. The petitioners has admitted the fact about the disbursement of the said loan to purchase a car. As per the terms and conditions of the aforesaid agreement, the petitioners have to pay installments at a sum of Rs.9,900/- per month. The petitioners had made uninterrupted payment of installments from 05.01.2020 till November 2020. Under these circumstances, due to the non-payment of the outstanding amount, the loan of the petitioners was foreclosed and thereafter the respondent unilaterally appointed a sole Arbitrator on 05.02.2021 by referring the clauses in the Loan-cum-Hypothecation Agreement dated 27.11.2019. The Arbitrator proceeded to conduct the arbitration proceedings and he had passed an award dated 30.08.2021 and the same is under challenge before this Court.

3. The main grounds of challenge that are made by the