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claim to be filed time bound?


I had filed a winding up petition against my debtors in 2006 and a liquidator was appointed in 2011, to avoid liquidation, a bank guarantee of the due amount has since been furnished in high court in favour of registrar Delhi High court. However the debtor has contested the claim of amount, the high court ordered us to go for arbitration as per the clause in my invoicest and my amount stands secured, it was agreed , as per order of high court  that the we shall invoke the arbitration as per the arbitration clause contained in the invoice and file claims within two weeks. that company proceedings were pending all this while, it is also agreed the other party that claim being adjudicated on merits and will not take the plea of limitation,

The arbitration was invoked within the time frame of 2 weeks and claim  filed after the time of 2 weeks as the arbitrator was appointed later . My query is whether the claim is time barred as the opposing party  has taken the plea that the case  time barred  after 4 months of arbitration proceedings as the claim was not filed withi 15 days    Regards & Thanks

 
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advocate

Sub-section 1 of Section 23 of Arbitration and Conciliation Act 1996 that is about Statement of claim and defence says —" Within the period of time agreed upon by the parties or determined by the arbitral tribunal, the claimant shall state the facts supporting his claim, the points at issue and the relief or remedy sought, and the respondent shall state his defence in respect of these particulars, unless the parties have otherwise agreed as to the required elements of those statements."

Hence limitation for filing the claim must be determined either by parties or by the Hon'ble Arbitral Tribunal. 

 

Hope you have got the answer.

 

With regards,

 

Mintu

 
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