Arbitration
sumit shinde
(Querist) 06 August 2015
This query is : Resolved
dear sir , i am from pune . i came in to agreement with a delhi based electonics company with a registered agtrrement in jan 2011 with arbitration clause for any disputes . last transaction date is 1 sep 2012 then after no transaction
but when disputes arise company used my blank cheques dated 1 sep 2012 cheque returned is the last monetary transaction with company and filed sec 138 case ..matter in court till date no result proceeding are ongoing ..
my question is on 1 sep2015 my 3 years will finish ,.. i want know as civil matters have limitation of 3 yrs is same applied for arbitration clause ?can they file arbitration case after 3 years ... or can they file after results of sec 138 cheque bounce matter which is in my favour definately
Guest
(Expert) 06 August 2015
Mr. Sumit,
Arbitration as per non-performance or defective perfornance and cheque bounce case are two distinct matters in the eyes of law, which has no parallel with each other.
But you have not mentioned on what count you want to refer the matter for arbitration.
sumit shinde
(Querist) 06 August 2015
dispute arised due to rejection of schemes , so i blocked company payment of rs 3 lak ...
Guest
(Expert) 06 August 2015
You are very miser in describing the problem. rejection of schemes by your or the electronics company, as against the terms of agreement?
sumit shinde
(Querist) 06 August 2015
sir all schemes orally given not written by agm of company but denied later ...then i had stopeed paymnt ..
if we speaks for terms of agreement it clearly mentions cash and carry buissnes policy ,no credit system ,.here agm dumped stock on credit to me to complete his targets.
is it valid for 3 years time for arbitration
Guest
(Expert) 06 August 2015
Formal (not verbal) terms of agreement are material in respect of the schemes. On the other hand, if payment is actually due, stopping of payment of cheques is an offence. So, before you become loser on both the fronts, better consult personally some local lawyer by getting your documents examined thoroghly for suggesting you the safe course of action.
sumit shinde
(Querist) 06 August 2015
sir my simple query is that is arbitration clause having 3 years limitation time ?
Chanchal Nag Chowdhury
(Expert) 06 August 2015
Arbitration will survive provided demand for arbitration is made within the period of limitation mentioned in the arbitration clause & the debt is not barred by limitation. Court will see whether a demand for arbitration was made prior to the debt bcoming barred by limitation.
Guest
(Expert) 07 August 2015
I endorse the views of learned Chanchal Nag Chowdhury.
Kumar Doab
(Expert) 07 August 2015
It has already been replied.
The experts have answered in the simplest possible manner.
You may better show all documents on record to an able lawyer dealing in such matters and prepare your defense.
Guest
(Expert) 08 August 2015
If not yet understood even the replies in simplest language that is your own problem. But, you should not expect the ready made answer to your academic query. Your so called simple query should also have been backed by adequate background and case history, if that really exits, which you have avoided to describe.
