Bipin Chander Negi, Judge (oral )

The present petition has been filed for setting aside the order dated 06.10.2021, whereby the execution petition filed by the present petitioner/judgment debtor for execution of the award announced by the sole arbitrator on 01-07-2017 has been dismissed.

2. I have heard learned counsel for the parties and perused the record.

3. Brief facts giving rise, to the present petition, are that a loan facility for a principal amount of Rs. 4,34,458/- was extended by the Petitioner to Respondent No. 1 for the acquisition of a commercial vehicle. This transaction was formalized through the execution of a Loan Agreement

Whether reporters of Local Papers may be allowed to see the judgment?

dated 29.04.2014, wherein Respondent No. 2 undertook the role of a guarantor for the repayment of the said facility. The funds were disbursed, enabling the purchase of an Ashok Leyland Dost truck, bearing registration number HP-31-C-1911. A dispute subsequently arosHe between the parties concerning the repayment of the loan instalments.

4. In accordance with the arbitrationf clause contained within the loan agreement, the dispute was referred to arbitration and a sole arbitrator wa