The Hon’ble Smt. Justice Renuka Yara Civil Revision Petition No.1487 of 2024

Order:

The Civil Revision Petition is filed by the petitioner/Decree Holder aggrieved by the order passed by the learned Principal District and Sessions Judge, Ranga Reddy District at L.B.Nagar in E.P.No.2 of 2024 in Arb.Case No.3014 of 2022, dated 23.02.2024, wherein, the petition filed to execute the Arbitration Award dated 29.12.2022 in Arbitration Case No.3014 of 2022 filed under Section 23 of the Arbitration & Conciliation Act, 1996 (for short ‘the Act’) has been dismissed as the award passed by the Arbitrator, is non est and void in the eye of law.

2. Heard Sri T. Sharath, learned counsel for the revision petitioner/Decree holder. Though notice was served, there is no representation on behalf of respondent No.1. Perused the record.

3. The background facts giving rise to the filing of the revision petition are that the petitioner herein entered into a Hypothecation-cum-Loan Agreement, dated 04.10.2019 with the respondent herein for disbursing an amount of Rs.Rs.8,00,000/-. When there was default in payment of EMIs, a claim petition vide Arb. Case No.3014 of 2022 was filed before the sole arbitrator nomi