Arbitration & conciliation act,1996

Aftabul Hussain (Querist) 26 August 2015 This query is : Resolved
Dear Sir,
One of my client buying a commercial vehicle by taking loan from finance company, on some instalment default the finance company repossessed the vehicle on the strength of agreement( Clause-5) and auctioned the vehicle and when their loan amount not recovered they again demanding money on the strength of said agreement and initiated case in Sole Arbitrator,vide (Clause-15) Arbitration in agreement. Now the question is that, can finance company do that ?

Aftabul Hussain
Advocate
Gauhati High Court.

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Anirudh (Expert) 26 August 2015
The simple answer to your query is YES.

Dr J C Vashista (Expert) 26 August 2015
@ Admin LCI,
We have decided to abstain from replying the queries raised on this platform as many non-legal members account have been opened which is against the rules and ethics.
Kindly look into the serious objection raised by experts with respect to the account/ membership of non-legal persons on this platform.
Dr. (Maj) J C Vashista,
Advocate

Anirudh (Expert) 26 August 2015
Dear Dr. Vashista,

There are two posts one a query and another reply.

Who in the above two posts according to you is a non-legal person?

R.K Nanda (Expert) 26 August 2015
Dr. Vashista,

what do you mean by non-legal members? clarify ?

Rajendra K Goyal (Expert) 26 August 2015
Expert Dr J C Vashista sir,

Sorry, Could not understand the reason of your resentment / meaning of your post.

Rajendra K Goyal (Expert) 26 August 2015
All the terms and conditions of the agreement need to be referred, consult your lawyer.

K.S.Srinivas (Expert) 26 August 2015
A condition is stipulated in the agreement, then YES. Better approach the lawyer along with the documents and seek his advice.