pawan (director) 22 September 2014

Enforcing arbitration award

ARBITRATOR APPOINTED BY HIGH COURT HAS PASSED AN AWARD AGAINST BUILDER COMPANAY

" TO EXECUTE SALE DEED, TO PROCURE STAMP PAPER , TO PAY FOR REGISTRATION ETC FOR WHICH MONEY HAS ALREADY PAID TO THEM 10 YEARS BACK"

AND ALSO TO PAY LEGAL EXPENSES AND MENTAL HARRASMENT CHARGES FOR RUPEES 80 THOUSAND EACH"

My question

1) Due to increase in circle rate stamp duty,resgistration charges have increased many time.Will builder buy the stamp paper at current value rates or on 10 year back rates when possesion was given.

2) What step we should take to safe guard ourselves as the stamp duty amount have increased 10 times i.e curently 18 lac stamp on present govt circle rate

3) Where builder can file application to challenge this award high court / district court.

4) Can we file caveat in district court

Your valuable sincere advice can save my family from builder (Sharks)

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1 Replies

Hardeep (Business) 22 September 2014

1) should be at present rates else property registration can be challenged any time on basis of insufficient stamp duty. Penalty upto 10 times the right stamp duty can be imposed.

2) Well, find and insist on proper stamp duty to be paid. If Builder doesn't, move an application in High court.

3) AFAIK, An award by an arbitrator can only be challenged per provisions of S . 34 of INdian Conciliation and Arbitration Act, in the Court which appointed the Arbitrator, by making an Application to the Court. Appeal lies to the next higher Court per s. 37.

4) Not sure why Caveat is required since if an appeal is made you would be informed per procedure.

DISCLAIMER : General information and advice provided is without any warranties as to suitability for any use, correctness and application to any specific case. Please always take proper legal counsel . However, if it helped anyone even a little a " thanks" would be appreciated and would encourage me to keep on making efforts :-) . I am also always open to corrections and further learnings from more experienced Seniors here.

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