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To stop arbitration and go for settlement


18-Jul-2024 (In Recovery Law)
Demand notice and pre arbitration notice received . Asked settlement after 6 months but sbicard issued . If I don't attend arbitration giving objection , what will happen ?
Answers (1)

Answer #1
514 votes
hello Don't worry. You just need to reply with objection to the arbitration notice as soon as possible. As per the supreme court bank and or nbfc cannot do arbitration with their created terms and chosen arbitrator. This if you put an objection the final award of the arbitrator will not have any value. Therefore you need to draft the reply with objection under the guidance of any advocate and you are good.
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