1. Instant writ petition under Article 226 of the Constitution of India is filed for the relief in the form of direction against the respondent No.1, Hinduja Leyland Finance Company (hereinafter referred to as the respondentcompany) for release of the Excavator Machine on supardgi subject to payment of necessary dues regularly on monthly installments and further relief incorporated by way of amendment vide order dated 3.2.2014 in the form of direction to newly added respondents’ No.3 and 4 to take action and register criminal case against the respondent No.2 and his companions on the basis of complaints made by the petitioner with further direction to respondent No.4 to give possession of the Machine in question to the petitioner forthwith.

2. Facts relevant and necessary for disposal of this writ petition are to the effect that petitioner had approached respondent-company, a finance company registered under the Companies Act, 1956 for purchase of new Hyundai R215 LC7 Excavator Machine with Sr.No.N603D0042 and Engine No.84093664 (hereinafter referred to as the ‘Machine’) under the loan scheme of the respondent-company. The loan agreement No.MPIDGW00041 dated 30.4.2013 was entered into between the petitioner (the borrower) with one Brijendra Singh as guarantor and the respondent-company (the lender). The loan amount advanced was to the tune of Rs.36,60,000/-. The same was required to be repaid in 33 installments at the rate of Rs.1,38,550/- per month commencing from 1.6.2013. The loan amount was released and the machine was purchased by the petitioner from a dealer. The terms and conditions are contained in the loan agreement. Article 2.9 of the Agreement deals with repayment of loan, Article 2.10 of the Agreement deals with mode of payment of the instalments. Article 13 deals with events of default and Article 14 of the Agreement deals with lender’s right of recovery of loan and inter alia Article 14.1 provides that upon occurrence of any/all of the events of default, the borrower shall be liable to pay to the lender as provided for therein. Article 14.2 thereof provides as under :

“14.2 In the event of failure of the borrower in complying with the demand in the said notice the borrower shall be bound to surrender to th lender at the cost of the borrower at such location, as the lender may designate, in the same condition in which it was originally delivered to the borrower, ordinary wear and tear expected, failing which, the lender shall be entitled to seize the asset wherever, is without any further notice. The borrower shall not prevent or obstruct the lender from taking the possession of the asset. For purpose, the lender’s authorised representatives, employees, officers and agents will have unrestricted right to entry and shall entitled to enter upon the premises, or garage, or godown, where the Asset shall be lying or kept, and to seize the asset. In the event of the borrower not cooperating, the lender, if necessary have the right to break open any such place where the asset is believed to kept and to seize the asset. The lender will be well within its rights to use towvan or any carrier to carry away the asset. The borrower shall be liable to pay any towing charges and other such expenses incurred by the lender in connection with the seizure of the asset and for its sale etc.”

Article 14.3 of the agreement provides that after seizure, lender’s authorised representative, employees, officers or agents will prepare an Inventory of the Asset. Thereafter, the lender will send a notice with a copy of the inventory, granting the borrower 10 days time to settle the contract and to take back the vehicle by following the other conditions contained therein. Article 22 of the agreement provides for law, jurisdiction and arbitration which reads as under :

“22.1 (a) All disputes, differences and/or claim arising out of thi