Arbitration award - execution
Tom
(Querist) 19 May 2016
This query is : Resolved
Dear Experts,
Now we realise that the debtor company, against which we received an arbitration award for non-performance, have challenged it under section 34. We are confident of winning the case,but the company does not have assets/income sufficient for a successful Execution. They are working from rented premises and have only computer hardware as assets,as far as we know.Seems the company was formed to cheat public like us.
In such case,what options we have Sirs ?
Kumar Doab
(Expert) 19 May 2016
Find out where did they stash the cheated monies!
Send them behind bars.
Rajendra K Goyal
(Expert) 19 May 2016
Discuss with local lawyer, show him full case file.
Tom
(Querist) 20 May 2016
@ Kumar Doab ! You mean sir that we file criminal case if the Execution is unsuccessful ?
Tom
(Querist) 20 May 2016
@ RK Goyal ! Yes sir,it is under care of a local lawyer,but he does not sound positive about a successful Execution under the circumstances. Hence my queries !
Adv. Yogen Kakade
(Expert) 20 May 2016
if you are sure that the execution is not possible and the transaction has been done to cheat and you have been cheated then File a criminal case immediately.
Adv. Yogen Kakade
Jurycon Incorporation
Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in Call: 020-65248888 / 09225510883
Advocate. Arunagiri
(Expert) 20 May 2016
You can attach the immovable property. If that is not sufficient to reliaze the award amount, you can send directors of the company to civil prison.
Then the other side will come for settlement.
