Judgment

Today, i.e. on 31.01.2020, when the matter is taken up for pronouncing Judgment, the learned counsel for the respondent represented before this Court that the matter has been settled before the Learned Arbitrator. But no order copy or any memo has been produced before this Court to that effect. Hence this Court pronounces the following Judgment :

1. These Civil Miscellaneous Appeals have been filed against the common order dated 16.09.2019 passed in A.Nos.1 to 3 of 2019 in O.P.No.573 of 2019 (hereinafter, referred to as 'Impugned Order') by the Sole Arbitrator.

2. The brief facts of the case is that the respondent is a partnership firm engaged in the business of production of films. A partner of the appellant firm approached the respondent for producing a Tamil film called “Jarugandi” and sought for financial aid to the tune of Rs.2.75 Crores. It was agreed to complete the movie and release it by February 2019, but it was not completed by that time and the respondent claimed to have paid the entire sum of the agreed loan amount. The appellant firm required an additional loan of Rs.1 Crore to complete the said film and hence the respondent was constrained to advance such amoun