Querist :
Anonymous
(Querist) 07 September 2010
This query is : Resolved
I HAVE TAKEN SOME COMMERCIAL LOAN FROM THE BANK FOR MY BUSSINESS. I HAVE SIGNED THE LOAN AGREEMENT PAPERS.
IN IT IS MENTION ALL DISPUTED WILL BE REFERRED TO THE ARBITRATION
IT IS NECESSARY FOR ME TO FIRST REFER THE ARBITRATOR AND THEN PROCEED TO CIVIL COURT
Devajyoti Barman
(Expert) 07 September 2010
Yes you can approach the court but only for a limited time and purpose. If during the dispute there is some urgent necessity then he could file a petition u/s 9 of the Arbitration and Conciliation Act for such interim measure before the court of district judge. But thereafter the dispute would be refrred to arbitral panel.
H. S. Thukral
(Expert) 13 September 2010
You can go to Consumer Court irrespective of arbitration clause but not to a civil court for resolution of any dispute involving contract.
Querist :
Anonymous
(Querist) 14 September 2010
Dear Harbhajan Singh
The matter was referred to consumer court . The court declined to accept our case on the ground that it is a commercial transaction and has to be referred to Civil court
H. S. Thukral
(Expert) 15 September 2010
Commercial purposes appearing in the definition of consumer in the CPA is open for interpretation. An insurance policy bought for a business establishment is not a commercial transaction or a business establishment hiring transportation services are not commercial services. Your taking loan for business purposes in my opinion shall not take you out of being a 'consumer'. But since Distt. Forum has already rejected your complaint, you can go for an appeal or refer the matter to Arbitration. In view of arbitration clause the jurisdiction of civil court is barred if the DISPUTE IS COVERED UNDER ARBITRATION AGREEMENT.
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