how to respond for arbitration how to respond for arbitration

3 years ago

i have received notice from lawyer for arbitration process, right now i don't have money , i have to pay 2.7 lac to bank my personal loan , since last one year i have not made any payments due to financial problem, i will pay emi regular from April 2021 ,how i should respond to them

Sidhaarth

Responded 3 years ago

A.Details are required to be examined. respond the notice and join the arbitration. You can also question and challenge the arbitration proceeding. You shall be required to file your defence and also face cross examination etc and likewise petitioner.
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Kishan Dutt Kalaskar

Responded 3 years ago

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A.Dear Sir,
It has become fashion for the bankers to initiate such proceedings in a far away cities and you can reply through advocate even then there are chances of passing award and they may come for attachment of your movable properties.

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Ankur Goel @ Complete Law Shield

Responded 3 years ago

A.you have to attend arbitration process else the order will be against you and then you have to go to court to challange it.
better make your offer in arbitration.


Hope this clarifies,
Advocate Ankur Goel (Complete Law Shield)
mymutualdivorce.online #YourLifeYourChoice
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Jagannath S Pawar

Responded 3 years ago

A.You will have to appear and put your say forward either yourself or through good Lawyer
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Ayantika Mondal @ Prime Legal

Responded 3 years ago

A.Hi,
Arbitration proceedings in India are conducted under the Arbitration and Conciliation Act, 2015. Please go through the content of the notice about the process and the panel selection to make a representation from your end. In arbitration both the parties are heard and a binding decision is given. You can make your representation citing the reasons for financial crunch and get an extension.
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Anik

Responded 3 years ago

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A.Hi,
Arbitration proceedings in India are conducted under the Arbitration and Conciliation (Amendment) Act, 2015.The main objective of having an arbitration proceeding is to solve the dispute as fast as possible, which also has a binding effect, without going to the Court of law and getting engaged in the long-drawn judicial procedure. Please go through the content of the notice about the process and the panel selection to make a representation from your end.
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