Arbitration execution


we have another award against us and this is in the process of execution as we lost due to 90 day limitation period( that is another story ) and now the award is by another fraud party who wants 50 % of the net income of the cinema but award is based on a family arrangement (fake again) which states the we have to share 50 % of the property assets including sale of the commercial establishment when it happens to the party benefiting from the award but in the final award the arbitrator has only written about sharing 50 % of profits from income and nothing about sharing the land value. would that be it or the arbitrator can make another award. The last award was passed 10 years ago and we have still been able to delay execution by 10 years but looks like now it getting closer to where we would have to give this fraud 50% of our earning in the last 10 years which again is only 10 lacs based on income tax returns but mr. fraud is asking for 4 crores based on his estimated and award strictly says 25000 per week from 1995 with 18 % interest or this figure could be changed if documents show if it higher or lower. what do you think should be the course of action??

 
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Dear coolguy

The facts of the case are quiet interesting .In my opinion all is not lost and provided certain facts are in your favour , there are good chances of  you getting the relief of not paying any amount to the 'fraud party'.

Let me know if you are keen on sharing details 

All the best .

VMV

 
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director

 

On the rejection or return of the section 34 Arbitration Act 1996 application,  whether the period for refilling delay beyond 120 days can it be sought to be waived under Section 10(a) in Order VII,CPC ?

 

Whether Section 10(a) in Order VII,CPC is applicable for condonation of delay in re-presentation of application/original petition filed under section 34 of Arbitration Act 1996 ?

 

 

Is exclusion  of   re-presentation delay for such application filed under section 34 is  an  exercise  totally  distinct from condoning the delay in filing application?

 

 

Such  application  filed, can it be sought to be rejected the plaint under Order VII Rule 11 of the CPC,1908 taking a view that time provided in the Section 34(3)  Arbitration Act for filing of an application is inclusive of re-presentation time and such proviso is analogous to Section 5 of the Limitation Act,  1963?

 

 

Whether the consequence of the re-presentation time, expiring under Section 34 of the Arbitration Act be waived either by condoning the delay or by excluding the time delay in re-presentation?

 
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