Adr act 1996

shrikant shelke (Querist) 28 February 2013 This query is : Resolved
R/S
can a Arbitrator set aside a sale certificate in a auction carried out by scheduled bank and further whether he has power to declare the auction held was illegal and bad in law in arbitral prociding filed by borrower.
If ,yes then under which section of ADR Act 1996 Arbitrator has got powers plz also suggest case law if any
Bank is registered under Multi-state co-oprative Act & also governed by Securitisation Act & located in maharastra

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Devajyoti Barman (Expert) 01 March 2013
Is there arbitration clause between the customer and the bank?
If yes then only the arbitral tribunal can discharge functions of arbitration as enshrined in the Act which include setting aside of sale certificate.

Rajeev Kumar (Expert) 01 March 2013
If there is any arbitaration clause between customer and bank then only the arbitral award is granted.

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