JUDGMENT

(Prayer: Arbitration Original Petition (Commercial Division) filed under Section 11(5) of the Arbitration and Conciliation Act, 1996 to appoint a Sole Arbitrator under Clause 16 xv of the Loan Agreement dated 11.10.2019 of the Loan Agreement to adjudicate the dispute between the parties.)

1. This petition has been filed under Section 11 of the Arbitration and Conciliation Act seeking for appointment of an Arbitrator.

2. The petitioner claims that they have entered into a Loan Agreement with the respondents on 11.10.2019. Under the Loan Agreement, the petitioner claims that the respondents have availed a loan from the petitioner. The petitioner also claims that the cheques issued by the respondents have been returned dis-honoured. The petitioner has also lodged a criminal complaint under Section 138 of the Negotiable Instruments Act against the respondents in respect of the dis-honoured cheques. A Statement of account has also been filed by the petitioner, which is dated 15.02.2022. As seen from the statement of accounts, certain sums of money are due and payable by the respondents to the petitioner.

3. It is the contention of the first respondent that no money was borrowed fro