Insurance matter

M.K.Ganatra (Querist) 06 March 2014 This query is : Resolved
Claim settled by insurance co, but amt. is low to the tune of 5 crores approx. What is time limit for approaching the case under Arbitration and conciliation Act.

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T. Kalaiselvan, Advocate (Expert) 06 March 2014
You have to prefer an appeal against the arbitration award amount within the prescribed time limit, ofcourse, you can prefer an appeal with the condone delay petition too if it is late.

Rajendra K Goyal (Expert) 07 March 2014
Agree with the expert. Go through the award.

T. Kalaiselvan, Advocate (Expert) 08 March 2014
The time limit for appeal against the arbitration award is three months, in exceptional cases one month extra time will be permitted. It is from the date of supplying the award copy.

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