quesGiven an indemnity bond for closing the case what should I do now

My company and Civil aviation Co-operative Society have entered a compromise petition Arbitration in the year 2009 by Arbitrator wherein I got 12 acres of land and they got 14 acres as per as per arbitration. According to consent arbitration between us I am supposed to give sites to 48 associate members if they deposit the amount which deposited in the society within 120 days (according to my conditions strictly) from the date of arbitration But nobody deposited or they came to approach me regarding this matter.What is the recourse of the case.how long the case will take for final orders.

  • ans

    You can enforce the arbitral award passed by the arbitral tribunal. Award shall be enforced where the arbitral proceedings are conducted i.e., territorial jurisdiction that Court only shall have the power of enforcing the award.
    For enforcing award, it should attain finality of award which means that from the date of award there shall be a  lapse of three months  till then you can't enforce the award unless the time so specified under S.34 of the act get exhausted, then it can be enforceable as per s.36 of the act. After making an application before the respective Jurisdictional Court


  • Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at LawRato.com and has been responded by one of the Arbitration Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.
Consult best Arbitration lawyers in India

Similar questions

I failed one subj1 for 7marks.5marks i ha to get a grace marks and 2marks…

My company and Civil aviation Co-operative Society have entered a compromise petition Arbitration in the…

In BSE Arbitration they arbitrated accurately, but when they released the Award after a month…

what is the use of an arbitration agreement when company taken full right in their…

Arbitration Lawyers in India

Advocate Arjun Vinod Bobde

  Supreme Court of India
 Experience: 16 years

Advocate Wg Cdr Ajit Kakkar (Retd)

 Experience: 17 years

Advocate Dr.Gubbi S Subba Rao

  K G Road
 Experience: 31 years

Advocate Jaspreet Singh Rai

  Greater Kailash 1
 Experience: 14 years

View all >>

How it Works

Know how LawRato makes legal advice easier and effortless

Ask a Free Question

Post a question and get free advice from multiple lawyers

Talk to a Lawyer

Easily find and book private consults with top lawyers in India

Get Fee Estimate

Receive multiple quotations for your legal requirement instantly