RENJU VARGHESE Vs. HDFC BANK LTD.

JUDGEMENT

(1.) This writ petition is filed by the petitioner under Article 226 of the Constitution of India, challenging Ext.P1 interim order passed by an Arbitrator in I.A.No.205 of 2016 in Arbitration Reference No.274 of 2016, dated 10.03.2016. The respondent in this writ petition is the claimant in the aforesaid proceedings.

(2.) Brief facts required for disposal of the writ petition are as follows:

(3.) Respondent has filed the claim petition before the Arbitrator contending that the respondent had financed a sum of Rs.1,22,092-71 to the petitioner herein for the purpose of purchasing a vehicle, as per a Hypothecation Agreement dated 23.05.2014. It is the further contention of the respondent that petitioner was very irregular in making payment of the instalments of the said loan and interest due thereon in accordance with the terms of the agreement. It is thus aggrieved, invoking the provisions of the agreement, respondent has instructed the Arbitrator to enter upon the terms of the reference and proceed accordingly.