LawRato

Section 4 of Arbitration Act. Award set aside. How to claim my money?


28-Jul-2023 (In Arbitration Law)

I had filed a petition under section 34 of the Arbitration & concilation Act 1996 to set aside an Award and pay the money to me with 24% interest.(The Award was which was favouring the ow the judgement has come setting Asside the Award. Now what action should I take to get tne money?

Answers (3)

Answer #1
682 votes
Your question is not clear and has a lot of typos. Was the arbitral award against you and you were directed to pay the other side? Did the section 34 get admitted in court? Has any order been passed in that case? The court will either uphold the award or dismiss in part or whole. If the section 34 order is also against you, you have the option of filing an appeal. However, at such appellate stage, you will have to deposit the amount in court and the other side may get the option to withdraw it upon submitting a Bank Guarantee. Please contact a lawyer before the limitation period for your case runs out.
Advocate Dhruv Suri

Adv. Dhruv Suri

LawRato Delhi | 25+ Answers
CONTACT NOW
Answer #2
808 votes
If the order gives you a right to recover money from the other party, the remedy is of filing an Execution Petition before the court which passed the S. 34 order. As per S. 36 of the Arbitration Act the order is deemed to be a decree of the said Court and executable. Offcourse it is subject to an appeal filed by the other party under S. 37 as the case may be.
Advocate Vanshdeep Dalmia

Adv. Vanshdeep Dalmia

LawRatoDelhi | 5+ Answers
CONTACT NOW
Answer #3
897 votes
Arbitration Award is to be examined to see what merits your claim has got along with other documents forming the basis of your claim. We can institute a separate claim seeking your money. In case the award grants your money as well then execution of that part of the award be sought.
Advocate Ashima Puri

Adv. Ashima Puri

LawRatoDelhi | 5+ Answers
CONTACT NOW

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 Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Connect with top Arbitration lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato