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If debtor unable to pay arbitration award, its consequences
14-Oct-2023 (In Arbitration Law)
If debiter not able to pay mony of finance arbitration award what happened next porciger what is punish ment and how is next porciger is there any solution
Dear Sir/Madam,
If arbitration award is finaly made, against any party then he shall be libel to pay the same, if he failed, then judgement holder go to the Civil Court, under o.21 for recovery of awarded amount, but you should go to the Civil Court whiting limitation.
Thank you...
If arbitration award is finaly made, against any party then he shall be libel to pay the same, if he failed, then judgement holder go to the Civil Court, under o.21 for recovery of awarded amount, but you should go to the Civil Court whiting limitation.
Thank you...
Helpful?
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Adv. Suresh Shivaji Dhamane
Nashik | 25+ Answers
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Next step, presuming appeal is not filed or appeal is dismissed, will be execution of the award by the Claimant under Order 21 of CPC. Under execution proceedings movable and immovable property may be attached and auction sale may be effected.
Helpful?
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Adv. Maneesh M. Dixit
Mumbai | 25+ Answers
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The decree holder shall move to the Civil court within whose jurisdiction award has been passed for execution of arbitration award with monetary claim for damages and compensation.
You can even challenge the arbitration award in court of appeal.. in this case the district court.
You can even challenge the arbitration award in court of appeal.. in this case the district court.
Helpful?
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Adv. Deepika Kukreja
Nagpur | 25+ Answers
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