Arbitration Case Against chitfund company
8 months ago
How to case file in arbitration subscriber against chit fund company
A.Dear Client,
Chit Fund Business in India is regulated by Chit Funds Act, 1982. No chit-fund business shall be conducted without obtaining the previous sanction of the state government. Under Sec.69 of the Chit Fund Act, when a dispute is referred to arbitration under this Chapter, the Registrar or the nominee, may, after giving a reasonable opportunity to the parties to the dispute to be heard, make an award on the dispute, on the expenses incurred by the parties to the dispute in connection with the proceedings and the fees and expenses payable to the Registrar or the nominee, and such an award shall not be invalid merely on the ground that it was made after the expiry of the period, if any, fixed for deciding the dispute by the Registrar, and shall, subject to appeal under Sec.70 of the Act, be final and binding on the parties to the dispute. Register your complaint against the Chit fund company online with the Ministry of Corporate Affairs. You need to fill up a form with information such as your name, city, country, nature of the complaint, complaint category, company name etc. The complaint should be addressed to the ROC of the respective state where the company is incorporated. To file a suit against the Chit Fund Compan for recovery of money, you need to file a police complaint under section 406, 420 IPC for criminal breach of trust against the chit fund company, deposit the cheque, and file a complaint under section 138 NI Act on account of dishonour of cheque or you can also file a summary suit to recover your money with interest. Reach out to an Advocate for guidance and steps.
Chit Fund Business in India is regulated by Chit Funds Act, 1982. No chit-fund business shall be conducted without obtaining the previous sanction of the state government. Under Sec.69 of the Chit Fund Act, when a dispute is referred to arbitration under this Chapter, the Registrar or the nominee, may, after giving a reasonable opportunity to the parties to the dispute to be heard, make an award on the dispute, on the expenses incurred by the parties to the dispute in connection with the proceedings and the fees and expenses payable to the Registrar or the nominee, and such an award shall not be invalid merely on the ground that it was made after the expiry of the period, if any, fixed for deciding the dispute by the Registrar, and shall, subject to appeal under Sec.70 of the Act, be final and binding on the parties to the dispute. Register your complaint against the Chit fund company online with the Ministry of Corporate Affairs. You need to fill up a form with information such as your name, city, country, nature of the complaint, complaint category, company name etc. The complaint should be addressed to the ROC of the respective state where the company is incorporated. To file a suit against the Chit Fund Compan for recovery of money, you need to file a police complaint under section 406, 420 IPC for criminal breach of trust against the chit fund company, deposit the cheque, and file a complaint under section 138 NI Act on account of dishonour of cheque or you can also file a summary suit to recover your money with interest. Reach out to an Advocate for guidance and steps.
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A.Dear client,
Generally, in order to refer a dispute for arbitration, you need an arbitration agreement with the consent of the opposite party as well. It cannot be one sided. Hence, you must obtain the opposite party's consent
Generally, in order to refer a dispute for arbitration, you need an arbitration agreement with the consent of the opposite party as well. It cannot be one sided. Hence, you must obtain the opposite party's consent
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