sole arbitrator passed ex party award
2 months ago
sir i have defaulted kotak bank credit card due to huge financial losses after which i have received notices regarding arbitration, sole arbitrator appointment, hearing, and at the end ex party award passed. when i receive sole arbitrator notice appointment notice during that time i accept the settlement offer of the kotak bank debt collection manager in 5 emis i am paying my emis as per settlement letter still i am receiving these notices i talk to the manager regarding this he said dont worry about it nothing will happen your settlement have been issued. now i received notice of award passed against me. what can i do now pls guide me in this matter.
A.Dear client,
If you were not aware or unable to attained the Arbitration and the award is passed against you, being unsatisfied with the order, you can file a petition before the Honorable High Court. There should be sufficient grounds for such application. If the court is satisfied, the judgement of setting away the said ex parte arbitration award will be set aside.
Thanks
If you were not aware or unable to attained the Arbitration and the award is passed against you, being unsatisfied with the order, you can file a petition before the Honorable High Court. There should be sufficient grounds for such application. If the court is satisfied, the judgement of setting away the said ex parte arbitration award will be set aside.
Thanks
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A.Dear Client,
In this situation, it's essential to take prompt action to address the notices and the ex-parte award passed against you. Firstly, gather all relevant documents, including the settlement letter and proof of your EMIs being paid as per the agreement. Consult with a legal professional specializing in debt and arbitration matters to understand your options. You may need to challenge the ex-parte award by filing a petition in the appropriate court, presenting evidence of the settlement agreement and your compliance with its terms. It's crucial to act swiftly, and your lawyer can guide you through the necessary legal procedures, potentially seeking a stay on the award enforcement while the matter is being resolved. Keep all communication with the bank well-documented, and ensure you have legal representation to protect your interests in this situation.
Thankyou
In this situation, it's essential to take prompt action to address the notices and the ex-parte award passed against you. Firstly, gather all relevant documents, including the settlement letter and proof of your EMIs being paid as per the agreement. Consult with a legal professional specializing in debt and arbitration matters to understand your options. You may need to challenge the ex-parte award by filing a petition in the appropriate court, presenting evidence of the settlement agreement and your compliance with its terms. It's crucial to act swiftly, and your lawyer can guide you through the necessary legal procedures, potentially seeking a stay on the award enforcement while the matter is being resolved. Keep all communication with the bank well-documented, and ensure you have legal representation to protect your interests in this situation.
Thankyou
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