Limitation on Arbitration

Guest (Querist) 14 October 2010 This query is : Resolved
Whether the Limitation Act is applicable on arbitration proceedings?

If a loan agreement contains arbitration clause, wheher bank can proceed for arbitration even after the debt becomes time barred?

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Kirti Kar Tripathi (Expert) 14 October 2010
it depends on arbitration agreement, in case, it provide any provision in this regard, it can be otherwise not

R.Ranganathan (Expert) 15 October 2010
Time barred means it cannot be proceeded against unless there is an acknowledgement of debt.

Rajeev kulshreshtha (Expert) 15 October 2010
Yes it depends upon the clause of agreement.

Chanchal Nag Chowdhury (Expert) 15 October 2010
Limitation of the debt & Limitation for arbitration are separate. Whether the debt is time barred is a matter to be decided by arbitrator & not by court, unless your agreement contains an exception clause.
Whether the arbitration is time barred is a matter to be decided by Court.