SBI Card Arbitation notice SBI Card Arbitation notice

4 years ago

I have received a arbitation notice from Delhi.. asking me to present there. I have os of Rs 1.81 Lacs failed to payments due to financial crisis. I stay at kolkata. how could I move or survive from the same.

Shyam Gangwar

Responded 3 years ago

A.After perusal of facts and circumstances, it is vital to say that you shall have to reply the notice which you received through the lawyer, So that legal response to be reached to SBI or say legally objection to the said notice.
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Sidhaarth

Responded 4 years ago

A.You can appoint a lawyer at Delhi who can represent you in arbitration proceeding.
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Chitra Sundar

Responded 4 years ago

A.It all depends on the basic document upon which the arbitration notice is issued. Usually such contracts with Banks are standard contracts and if you have signed it, then you have no option, but to engage a lawyer in Delhi and attend it or you can personally go.
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Thulasiram S(STR)

Responded 4 years ago

A.Dear Anupam,

Can you kindly check where the seat of Arbitration in your pre agreements or contracts which you had made with bank. For Arbitration notice you have to act as Arbitration award can be given based on merits hearing one side(exparte) however it is binding on you.

I would suggest lets respond to Arbitration notice saying the situation that your current position that you can't attend now and ask them to divide monthly installments to small monthly payments

Please understand that Arbitration process is like a private court and its award(judgment) is binding on you.
with that award , Bank can come to Kolkata and either attach your properties or arrest you.

For any further help, please reach out to me
Thank & Regards,
S Thulasiram
M Tech, MBA, MA, LLB, PGD-Cyber Laws NALSAR
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Shreyash Mohta

Responded 4 years ago

A.Please do lodge a complaint with the banking ombudsman immediately.
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Kishan Dutt Kalaskar

Responded 4 years ago

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A.Dear Sir,
Such mischievous and misleading Arbitration proceedings being initiated at Delhi so that borrowers cannot attend. In Bengaluru also similar thing happened to many borrowers. Delhi has no territorial jurisdiction. Get issue a legal notice and make it a big issue and lodge complaint with Banking Ombudsman etc.
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Pavan kumar Gudipati

Responded 4 years ago

A.Please attend your self or any of you legal representative (lawyer) at Delhi. Inform the situation and readjust the loan. If you send actual notice, that can help us more.
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vishnu Prasad V

Responded 4 years ago

A.Don't response the amount is to be deposit in the court after case process. If you want to attend ask them to foreclose the card and the amount to bargain to 5o% percent because they add more interest. And the amount is to be deposited in the card number in concern bank
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