Limitation For Initiating Arbitration

787 votes

The Limitation Act 1963 applies to all proceedings under the Arbitration and Conciliation Act, just as it applies to proceedings in the Indian courts, except to the extent expressly excluded by the Arbitration and Conciliation Act. Any arbitration proceedings commenced after the limitation period (three years from the date on which the cause of action arose) will be time barred. For further consultancy and legal services you may contact us.

Advocate Anubhav Kathuria LawRato

717 votes

The claims arising out of a loan contract has 3 year limitation period. Even though the contract of 2008 but you have to check when the claim arose.

In order to initiate appointment of arbitrator the notice of invoking of arbitration proceedings must be served upon the other party.

Let me know if you want to discuss further.

Advocate Kabir Hazarika LawRato

715 votes

This will depend on the fact that till what time was the loan agreement subsisting and valid. Another thing which needs to be seen is whether there is any continuing cause of action for invoking arbitration.

Advocate Tejasv Anand LawRato

807 votes

In terms of Article 18 and 137 of the limitation act, the Arbitration has to be invoked within 3 years from date of cause of action.
cause of action- is to be considered on two stages when there is demand from one side and thereafter denial from the other party.
however, a fresh cause of action can arise if there is any part payment of amount or an admission from the other side.
do let me know if you have any further query.

Advocate Siddharth Joshi LawRato