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coolguy (physician)     06 May 2014

Arbitration

Arbitration award has been passed against  us in which the arbitrator says that we owe the other party a certain amount of business income but the end of the award says that if any party proves that the amount is more or less in the future then the amount can be adjusted. the other party is in the district court to have their award executed and we have submitted our income tax returns in the court stating that we had a loss over the years and that we had a net loss of 9 lacs so now who decides the final amount? is that the executing court or the arbitrator. since the award is in execution would the court decide this or send it back to the arbitrator????



Learning

 3 Replies

Ponraj Ramasamy (Lawyer)     07 May 2014

U Can go only For appeal under section 34 of Abitration and concillation act,1996 before Distict court or before High Court based on the Award passed Jurisdiction. 

coolguy (physician)     07 May 2014

I am not talking about the appeal. the objection has been dismissed. we have accepted the award.this is execution in the district court but i am trying to interpret the language used by arbitrator because it is confusing so who clarifies the confusion? it says we shall pay the other party a certain amount of money but if any party proves the amount is less or more then it can be adjusted. who adjusts that?

Saurendra Rautray (advocate)     14 December 2015

Hi,

Such query cannot be solved without reading the exact words of the award, It seems the Arbitrator has awarded a specific amount and rest said if it is found that there are amount to be deducted or added it can be done but then such addition/subtraction can only be done.

Since there are no such money to be added or subtracted then the amount specified in the award has to be paid. This opinion has been given with the limited inputs you have given us.

Regards
Saurendra Rautray
Rautray& Co
www.rautray.com
09437008255


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