ORDER

Ms.V.Valarmathi, learned counsel on record for petitioners is before this Court.

2. PREFATORY NOTE:

2(i) Instant 'Original Petition' ('OP' for the sake of brevity) has been filed under Section 34(2A) of 'The Arbitration and Conciliation Act, 1996' (Act No.26 of 1996)', which shall hereinafter be referred to as 'A and C Act' for the sake of brevity. To be noted, caption in case file reads Section 34(2A), but it figures as 34(2-A) in the statute. Be that as it may, instant OP has been filed assailing an arbitral award dated 19.06.2019 made by an Arbitral Tribunal constituted by a sole Arbitrator qua a 'loan agreement dated 31.12.2014 under Contract No.J012900737' (hereinafter 'said contract' for the sake of brevity, clarity and convenience). One covenant in said contract i.e., Article 22 is an arbitration clause and therefore, the same serves as an 'arbitration agreement' between the parties being 'arbitration agreement' within the meaning of Section 2(1)(b) read with Section 7 of A and C Act between the parties.

2(ii) Challenge to an arbitral award under Section 34 of A and C Act, going by the language in which Section 34 of A and C Act is couched, is by way of an application, but