- (1.) Petitioner, a defaulter borrower, has approached this Court seeking a relief to command the respondent no.2, which is a private finance company to accept the amount in easy installment except other charges.
(2.) Facts are that the petitioner after availing the facility of finance purchased a vehicle. Admittedly there was a default in repayment of installments, as a result in accordance with terms of the agreement the dispute was referred to arbitration. The Arbitrator vide judgment and order dated 05.10.2015 passed an award holding that the petitioner is under liability to pay a sum of Rs.6,37,893/- towards outstanding dues. Besides the Arbitrator also awarded interest on the defaulted amount at the rate of 36% per annum in accordance with the terms of the agreement and further interest at the rate of 24% per annum from 18th February, 2018 till the date of award. Respondent-finance company put the award in execution before the District Judge. The District Judge vide order dated 31.01.2008 has issued the process of recovery.
(3.) The recovery initiated against the petitioner is in pursuance to the award which has attained finality and, thus, no exception can be taken to the same. Even during the course of arguments, learned counsel for the petitioner failed to point out any illegality either in the order or in the procedure adopted to warrant any interference of this Court.;