Appeal Against Arbitration Award

In BSE Arbitration they arbitrated accurately, but when they released the Award after a month they were bribed by the opposite party and hence gave them a clean chit. BSE India told me to appeal in BSE India, but I want to approach the next higher body that cannot be bribed so please help.
Posted 1 year ago  | 
Arbitration,Corporate Law,High Court
Arbitration Corporate Law High Court

3 Answer(s)

Ravindra Purohit
Advocate
You can make an application for setting aside Arbitration Award and take a recourse to a Court of Law. I am not able to provide you further opinion on Limitation, Grounds of Challenge/Appeal and Jurisdiction due to lack of certain information not provided by you. The Court of Law can set aside an arbitration award in certain circumstances which are mentioned in Section 34 of the Arbitration and Conciliation Act, 1996.
Harshit Bhurani
Advocate

As per the by laws of BSE there is a provision for appeal to the appellate body of the BSE arbitration wing. However there is a statutory remedy that is under section 34 of Arbitration Act where you can apply to the High Court and challenge the award of the BSE. For further queries please contact me

Vishal Kumar Thakur
Advocate

As per BSE Arbitration Rules, you have to first file an appeal within 7 days of the award to the appellate board. In case you are not satisfied with the appellate decision, then only you can approach a court of law for further challenge.