Regarding arbitator.

varinder (Querist) 08 May 2012 This query is : Resolved
i had taken frindly loan from my friend for Rs 1,00,000/- but i could not pay the said loan amount in time the said friend had filed a case against me under the arbitator act as i have written and given in the stamp paper than incase if any dispute rise shall be decided by the said arbitator which is binding on the both the parties. as the arbitator had passed award against me know let me know what to do please help me .

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V R SHROFF (Expert) 08 May 2012
Pay him, or face execution Proceeding [RD] includes attachment of your property thru court.

R.K Nanda (Expert) 08 May 2012
Take a stay order from civil court against the execution of said award.

ajay sethi (Expert) 08 May 2012
you took loan from your friend and did not pay him . you have lost a friend plus have to face legal; proceedings . settle with your friend

Advocate Bhartesh goyal (Expert) 08 May 2012
File objections u/s 34 of Arbitration And Conciliation Act 1996 before District Judge having jurisdiction.If your objection petition is admitted means automatic stay on execution of award.

DEFENSE ADVOCATE.-firmaction@g (Expert) 09 May 2012
Do your home work properly for objections to award application starting from arbitration agreement .

Do it quick since the automatic stay provision will be deleted soon by parliament.