Company not releasing funds after compromise in arbitration.

Question

Company not releasing funds after compromise in arbitration.

27-Oct-2023 (In Arbitration Law)

we accepted & compromised with a big company in front of arbitration for less amount , but company is not responding to release our funds , what should we do ? again go to court ? how long will it take to get funds released

Answers (3)

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Advocate Muddu Vijai LawRato · Accepted Answer · 2017-10-28T18:33:00+05:30

Answer #1

If you have compromised as per new arbitration act, You can file execution Petition before competent court by attaching the property of the company. If file file E.P. they will come forward and settle the issue.

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Adv. Muddu Vijai Adv. Muddu Vijai

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Advocate Rajagopalan LawRato · Accepted Answer · 2017-10-29T17:02:19+05:30

Answer #2

Hi If the appeal is not pending against the arbitral order, you should file an execution petition before the commercial court and get your arbitral award executed. Hopefully you have paid for the stamp duties for execution of arbitral award..

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Adv. Rajagopalan Adv. Rajagopalan

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Advocate Dwara Pallavi LawRato · Accepted Answer · 2017-10-30T11:46:20+05:30

Answer #3

U did not specify whether the same was put in writing before the arbitrator. If not u are at liberty that if the matter is pending u can file an application before the arbitrator to record the terms of settlement and also can get a direction for release of funds.

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Adv. Dwara Pallavi Adv. Dwara Pallavi

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