Respected Members,
I have received a notice from a sole arbitrator appointed by bank. The grounds for invoking the arbitration has been mentioned the dispute over some X amount due over my credit card balance. The arbitrator has called for initial meeting and has asked to attend such meeting mandatorily.
Before receipt of this notice of arbitration, i received a legal notice from bank for the payment of X amount due against my credit card and asked me to pay such amount within 15 days alongwith the notice fee of Rs. Y.
Now the real Facts
The amount claimed by bank in legal notice was made 20 days prior to receipt of notice and well before the due date of the credit card. Hence there was no amount due in my credit card account which even the credit card statement clearly shows.hence i ignored the legal notice and did not replied to that legal notice.
Suddenly that bank (afetr 2.5 months of receipt of all pending amount) has sent this notice from their arbitrator appointed by them. Hence the legal notice and then this invoking of arbitration clause is not at all valid as the grounds mentioned in the arbitration letter does not arise. There is no amount due and there is no dispute over any of such amount.
My question:
1. I will reply the letter of this arbitrator to quash this aribtration proceeding as no grounds for arbitration arise.
What else should I do apart from asking him to qaush the arbitration proceeding?
Can bank be criminally prosecuted for harrassing me for dues which has already been paid
can bank be prosecuted for extortion for demanding money which has already been paid.
Would highly appreciate advice and comments.
Thank you & best regards,
Awadhesh
