execution of arbritration award
I was dealing in commodity market NCDEX through Karvycomtrade Ahmedabad. I suffered losses due to negligence of Karvycomtrade. Ncdex arranged arbitration at Mumbai by Ret High court Judge and award has come in my favor in March 2015. Karvy is not paying the amount and delaying by saying by Legal department is looking in to the matter. Pl advise as to next course of action for recovery of the amount. Pl also inform about any time limit for appeal and also for execution. more
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I would not suggest to file now as the limitation may be extended to 120 days and if NCDEX might have filed the objections to the Award u/s 34 of Arbitration & Conciliation Act 1996, and notice might have been issued to you, then your execution will be automatically stayed. Whether you had filed any caveat against the award I don't know. you should have filed a caveat in appropriate court as per jurisdiction to know about the filing of objections. You can discuss on phone if you want. 9312226308. more
Jun 26
Mr. Murari Todi, please initiate execution proceedings. since you ve already given a notice which was not responded, go in for execution directly. three months have already passed. more
Jun 26
FINALITY ANDENFORCE OF ARBITRAL AWARD--Sections 35&36 of The Arbitration and Conciliatition Act,1996.The award is required to be enforced under the Code of Civil Procedure1908 in the same manner as if it wwere a decree of the Court. You are to approach to the appropriate civil court as per value of award and its jurisdiction.Practising Arbitrator.G. S.Dubey.Dont delay .Already 3months passed. more
Jun 26
