Objection to arbitration notice received

572 votes

Receiving a pre-arbitration notice from an NBFC is a formal intimation under the Arbitration and Conciliation Act, and it is important that you respond within the stipulated time to avoid an adverse ex-parte award. Before filing any objection, it is essential to verify whether the arbitration clause exists in your loan agreement, whether the jurisdiction mentioned is valid, and whether the notice complies with mandatory legal requirements. An objection must be drafted carefully, placing on record your disputes regarding the alleged outstanding amount, the deficiency in service (if any), incorrect calculation of dues, unlawful charges, and any violation of RBI guidelines by the lender. Once your objection is submitted, the NBFC cannot proceed mechanically without addressing your contentions. The professional fee for preparing and filing a legally compliant objection varies depending on the complexity of your case and the volume of documentation involved. It typically ranges from a nominal drafting fee to a comprehensive representation package if the matter proceeds to arbitration. Costs will be clearly informed after examining your notice, loan papers, and account statements. Do not ignore the notice. A timely objection protects your rights and prevents the lender from obtaining an arbitral award without your participation. You may share the notice and loan details so that appropriate objections can be drafted and filed on your behalf.

Advocate Pavani Kumari LawRato

875 votes

hi first need to see the contents of the notice received and the allegations mentioned in after going through it then you could send the reply notice to him explaining your position and stand in the case

Advocate Baddam Aravind Reddy LawRato

626 votes

Notice cost varies it will charge from 3k to 10k and also depends on the advocate seniority on that case, as soon as u send notice it is good for you in this recover arbitration notices if you won’t reply then other wide will get awarded and he will freeze all your bank accounts which are linked to pan card and Aadhar card, then you will not do any transaction from your account approach us we will help you

Advocate Rajkiran Govindcar LawRato