Execution money decree after arbitration award

Arbitation award are executed through district court only as per the provisions Arbitration and conciliation Act. If you have not challanged the award and want to pay by installments you can request the bank and the court also. The banks are   interested in the recovery of their money rather than arrests. So if you show your willingness to pay by depositing some amount in the court, they will grant you further time. 

Bank is not allowing long instalments..They are getting aggressive to recover amount in 3-4 instalments...How can i get a time limit of 2-3 years by paying legible instalments. Going to a high court is a cumbersome process....Is there a provision under CPC which can be invoked or is there a case study wherein I ask for equated monthly instalments spread over 2-3 years.

Credit cards have credit limits and CC companies do not allow usage more than credit limit.

Did your brothers avail any loan on CC? Is this huge amount priniple or inclusive of interest, finance charges, penalties etc?

It shall be appropriate to get in touch with an experienced and competent lawyer and proceed under expert advise.Let your lawyer handle the case. Bank has sensed that your brothers are not coming forward and are prbably stressed and that is why bank is following the strategy to exert more presuure.

challange the Award by filing petition u/s 34 of Arbitration and Conciliation Act before District judge having jurisdiction to entertain the same.If the Distict court admits the petition than it will be automatic stay on execution  proceedings.

Hello Kumar,

The amount claimed by bank includes interest @18% & other other litigation expenses.....

Challenge the award in district court by filing an allication under section 34 of Arbitration Act.

you should challenge the ex-parte award under the arbitration & conciliation act. the execution degree would auto get stalled.

Dear Mam,

I agree with Advocates suggestion above to file Section 34. As stated it has been an exparte award. Now since they have moved to execute the award in a  session court, it is pertinent to mention that an execution of an award has to be done through the District court. Now i think either you may have participated in the said proceeding even though thats the wrong forum to execute and arbitration award. But that shall constitute your date of knowledge of the exparte award. See the date on notice you have receieved and if 3months and 30 days have lapsed then you have already gone beyond the limitation period for filing section 34 before the district court and if not please go an file challanging the exparte order. Thanks.

Kindly also ask for the agreement copy and see if there is any arbitration agreement or any documents on which they have relied stating there is an arbitration clause between you and them. Thanks