Default in repayment of loan - Order of attachment of property - Arbitral Tribunal had exercised its discretion properly.

Citation 

AIR 2024 MADRAS 210

: AIROnline 2024 MAD 598

ABDUL QUDDHOSE, J.

Raja Ram and another v. M/s. Shriram Transport Finance Company Ltd., Chennai and another.

C. M. A. No. 2263 of 2021, D/- 29-4-2024 Arbitration and Conciliation Act (26 of 1996), S. 17 Default in repayment of loan - Order of attachment of property Challenge against - Order of attach- ment of property owned by borrowers for securing shortfall amount still due and payable by borrowers to claimant Though borrowers had various defences to defend their claim before Tribunal, impugned order cannot be interfered with by High Court in view of admitted fact that borrowers are defaulters in repayment of loan to first claimant - Held, Arbitral Tribunal had exercised its discretion properly based on available evidence. (Paras 9,10)