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IN THE HIGH COURT OF KERALA AT ERNAKULAM
S.MANU, J
M/S. SHRIRAM FINANCE LIMITED (FORMERLY KNOWN AS SHRIRAM TRANSPORT FINANCE COMPANY LTD) – Appellant
Versus
SHOUKATH – Respondent
| Table of Content |
|---|
| 1. petitioner invokes arbitration due to loan default. (Para 1 , 2 , 3 , 4) |
| 2. court verifies compliance with arbitration agreement. (Para 5 , 6) |
| 3. order issued to nominate arbitrator. (Para 7) |
O R D E R
Applicant is a non-banking finance company engaged in the business of granting loan on security for purchasing vehicles. The 1st respondent availed a loan from the petitioner for an amount of Rs.3,50,000/-. Respondents 2 and 3 are the guarantors. Respondents agreed to repay an amount of Rs.4,84,551/- in 36 monthly installments and a hypothecation cum loan agreement was executed on 30.07.2022. A copy of the agreement has been produced as Annexure A. It contains an arbitration clause.
2. The respondents defaulted repayment and the applicant invoked the arbitration clause. A petition under Section 9 of the Arbitration and Conciliation Act was filed before the District Court, Kozhikode which was allowed and the vehicle in question was taken possession. A copy of the order passed by the Additional District Judge – V, Kozikode on 18.06.2025 in M.A (Arb)No.69 of 2025 is produced as Annexure B.
3. Thereafter on 22.04.2025, notices invoking the arbitration clause was issued by
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