Learned counsel for petitioner, after making arguments at some length, submitted that despite service, the respondent did not appear before the court below and, therefore, instead of issuing notice in present writ petition, petitioner may be set at liberty to make fresh application before the court below under Section 9 of the Arbitration and Conciliation Act, 1996, showing further default committed by respondent loanee in payment of monthly installments from the date of filing of application decided by impugned order, in the light of judgments of this court in (1) Ramswaroop Sharma Vs. M/s Mentor India Limited – 2010 (1) DNJ (Raj.) 526, (2) S.B. Civil Misc. Appeal No.607/2014 – M/s. Manohar Industries Vs. Sundram Finance Limited, decided on 10.04.2014, and (3) S.B. Civil Misc. Appeal No.3077/2007 – M/s ICICI Bank Limited Vs. Vishnu Prasad Sharma and Another, decided on 21.08.2007. His further submission is that as per instructions of the Reserve Bank of India, if a loanee remains in default in making payment of three consecutive installments, his account is liable to be declared NPA and thereafter consequences to follow.
