2. According to the revision petitioners, the revision petitioners are the guarantors for the loan borrowed by the third respondent from the first respondent under a hire purchase agreement No.536977, dated 28.02.2018 in respect of the vehicle: 2015 model: Ashok Leyland, 3118 Goods used bearing Registration No.TN 59 BW 5997. Due to natural calamities, the third respondent was not able to mobilize funds for repayment and her vehicle was taken into possession by the first respondent on 03.08.2019. Furthermore, the third respondent received a notice from the first respondent demanding Rs.14,38,544/- from the petitioner. Hence, the matter was referred to the second respondent for arbitration by the first respondent and the award, dated 09.12.2021 came to be passed behind their back and the petitioners were set ex parte and the award came to be passed as such prayed for. Thereafter, the petitioners filed O.P.No.121 of 2023 to set aside the ex parte arbitration award on 21.11.2023 and an application in E.A.No.1 of 2024 to stay the execution proceedings in E.P.No.18 of 2023. The learned Additional District Judge, Virudhunagar dismissed the stay application on 18.04.2024 stating the stay petition can only be entertained in O.P.No.
