Team Legistify | Legistify

Team Legistify
Answered on 09 Nov 2019

if you have a genuine ground, you can file a set-aside application, if the court accepts the same you will again become an active party in the case or else you will remain absent from the court.Read More

Posted on 07 Nov 2019 | 1 Answer

Arshi Noor | Legistify

Arshi Noor
Answered on 30 Sep 2019

You can file an application to the arbitration and if both the parties do not have any objection, then you can become an intervenor.Read More

Posted on 06 Sep 2019 | 1 Answer

Aayushi Sang | Legistify

Aayushi Sang
Answered on 12 Sep 2019

Arbitration is an alternative dispute resolution mechanism provided by the Exchange for resolving disputes between the trading members and between trading members & constituents (i.e. clients of trading members), in respect of trades done on the Exchange. This process of resolving a dispute is comparatively faster than other means of redressal. The facility of arbitration on the Exchange can be availed by: Investors who have dealt on the Exchange through its trading members and who possess a valid contract note issued by the trading member of the Exchange. Investors who have dealt on the Exchange through registered sub-brokers of the trading members of NSE and who possess valid sale/purchase note issued by the registered sub-broker. Trading members who have a claim, dispute or difference with another trading member or a constituent. Consult an Arbitration lawyer in India to know if your case falls in these situations.Read More

Posted on 01 Sep 2019 | 1 Answer

Aditya Dua | Legistify

Aditya Dua
Answered on 23 Aug 2019

An application to challenge an arbitration award must be filed in a court within three months of receipt of the award. In certain circumstances, the court may consider an application for setting aside within a further period of 30 days if it is satisfied that there was sufficient cause for such delay. If the court rejects the application for the challenge, the award is enforceable as a decree of the court. The unsuccessful party has only one right to appeal an order setting aside or refusing to set aside an award and no second appeal can be made against an appellate order. You can challenge an arbitral award with the help of an arbitration lawyer in India. However, there is a constitutional right to file an appeal before the Supreme Court of India (a ‘special leave petition’). The Supreme Court will exercise its discretion sparingly and consider such an appeal only if there is a gross error of law or an important issue of law is involved. The parties cannot enter into an agreement to waive their right to challenge an arbitral award.Read More

Posted on 20 Aug 2019 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Risk of court intervention Usually, judicial intervention in arbitration is limited to the purposes mentioned in the Arbitration Act. There have been cases where the courts have directed the parties to approach an already subsisting arbitral tribunal for interim measures. Similarly, there have been some cases in which the courts interfered when issues of impartiality or independence of the arbitrators arose. However, since then the law has been clarified. Delaying proceedings As the courts only intervene in very limited cases, there is very little that a party can do to delay an arbitral proceeding. Read More

Posted on 09 Mar 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

The burden of proof lies upon the person who makes the appeal to the court praying to set aside the arbitration award. It is the duty of such appellant to prove the allegations beyond the reasonable doubt. The court must satisfy with the evidence submitted by such appellant. Read More

Posted on 04 Mar 2016 | 3 Answers

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

If the loan agreement signed between you and your finance company had an arbitration clause, then you must comply with the notice issued by the arbitral tribunal who has initiated proceedings for recovering the loan amount. Though they took possession of the vehicle and sold it, they can still initiate proceedings against you for recovering the balance amount. You can agitate before the arbitral tribunal about the value for which the vehicle was sold. Read More

Posted on 18 Feb 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

The arbitrators are required to set out the reasons on which their award is based, unless the parties agree that no reasons are to be given or if it arises out of agreed terms of settlement. The tribunal may make an interim award on matters on which it can also make a final award. Indian law provides for a very healthy 18% interest rate on sums due under an award. Thus, unless the arbitral tribunal directs otherwise, the award will carry interest at 18% per annum from the date of the award till the date of payment. The tribunal is free to award costs, including the cost of any institution supervising the arbitration or any other expense incurred in connection with the arbitration proceedings. Read More

Posted on 09 Mar 2017 | 1 Answer

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

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. Read More

Posted on 03 Mar 2016 | 3 Answers

Team Legistify | Legistify

Team Legistify
Answered on 28 Sep 2018

Third parties cannot be joined to an arbitration or be bound by an arbitration award unless they specifically agree to become a party or be so bound. Read More

Posted on 09 Mar 2017 | 1 Answer