Arbitration for resolving asset dispute/s between legal heir

Querist : Anonymous (Querist) 23 July 2010 This query is : Resolved
I wish to in for Arbitration for a pending dispute but do not know whom to approach and the procedure for it. Will appreciate if Mumbai based experts will guide me in the matter and ansew following queries:

1) Can a retired judge of High Court be appointed as Arbitrator ?

2) I understand it cost large money due to greed and value of assets put up for arbitration, can I therefore approach forum like Bombay Chamber of Commerce or any such other forum, if yes pl. suggest names and cost ?

Follow Query

Report Abuse

Daksh (Expert) 23 July 2010
Dear Anonymous,

If there is a written contract/agreement amongst the parties to the dispute having arbitration clause then resorting to the Arbitration proceeding is not a big issue otherwise both/all the necessary parties have to agree for referring to the disputes for Arbitration by way of pleading before the appropriate court of law and in such eventuality preferably the court will appoint retired judge/s as Arbitrator to adjudicate the dispute.
Best Regards

Daksh

Chanchal Nag Chowdhury (Expert) 24 July 2010
U must fulfill the following conditions before going into Arbitration proceeding:-
1.There must be a written Arbitration agreement.
2.There must be disputes.
3.The disputes must be referable to Arbitration.

Querist : Anonymous (Querist) 24 July 2010
Could some expert enlighten and clarify if Arbitration is possible if majority of legal heirs are for it even if there is a past MOU (not an agreement) mentioning Arbitration clause in case of dispute/s.

Y V Vishweshwar Rao (Expert) 24 July 2010
Taking in to consideration of MOU clause for arbitration , the matter can be referred to Arbitrator- even after filing the suit - File a suit and take steps under Sec 89 C P C- Settlement of Disputes out side the Court- .