Sbi credit card arbitration award
1 year ago
I was using sbi credit card in the past which was stopped about 12 years back.
Last week I came to know that an arbitration award dated 7th September 2022 was passed for an amount of 347628.85 against me. The limit for the credit card was only 20000. The purchase must have been made about 12 years back. The last bill paid must also be about 12 years back. Isn't there a law that arbitration should be made within 3 years? I am a retired railway servant getting pension. Can they recover the amount from my pension account? Can they attach me property? Kindly help me.
Such irregularities being committed by the Bankers and the following for you to go to civil Court or High Court challenging such award.
Since there is an arbitral award hence they will go to the extent of executing the award and once the award is executed then they will try to recover the money through a court order from whatever sources they can. What you should do is challenge the award in the court of law within three months.
Anonymous
Replied 1 year ago
What should I do now? Can the award be set aside? They have decided to arbitrate after about 12 years after blocking the card. Is that permitted. Can we fight on that ground.
There is no such rule that it should be challenged within 3 years. But you can definitely challenge that award under Section 34(3) of the Arbitration & Conciliation Act, it has been specifically stated that the Court can entertain the application beyond the period of 90 days, if the applicant is able to satisfy the Court that he was prevented from sufficient cause from making the application within the said period of 3 months and in that case, the Court can entertain the application within a further period of 30 days, but not thereafter.
As you were not aware of the proceedings, the Principle of natural justice is also not followed. So please contact an experienced lawyer and start the legal proceedings.
They cannot just recover it by taking over your bank account, if you fail to respond and do not pay them, then they might try it.
Anonymous
Replied 1 year ago
What should I do now? Can the award be set aside? They have decided to arbitrate after about 12 years after blocking the card. Is that permitted. Can we fight on that ground.
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