Was working in south indian gold loan company . i joined in 2011 on joining campany execute indemnity cum surity agreement that i am responsible for paying any loss if occured in future and also gave my father suruty supported by my house property. A ccording to indemnity bond sign by us with company there is arbitration clouse . mean any dispute will be solved by arbitration but arbitration should be in kerela only iam posted in ludhiana on dec 2011 during audit one gold packet missing during day timing . campany make responsible me and branch manager for loss as i am the custodian of keys. company file case for misappropation of gold under section 409 and 120b. i face police investigation. and in 2012 i got clear chit from police and police make manager responsible after 2012 company send me notice for payment of rs. 500000 and i gave written reply to company to deny payment as i am clear from police and not committed any mistake in 2014 company send letter for arbitration . but i am not able to go to kerela for that now on 21/10/2018 after 7 year of this incident company send me a legal notice through his lawyer to pay Rs. 500000 with 24% interest from 23/11/2011 . if i will not pay they will file case and attach my property . and recover debt as per indemnity bond i want advise on following please note we have signed a indemnity bond in which i gave my home property paper 1. i want to know can company file case against me after 7 year of incident and company lawyer is from kerela can company file case in kerela. 2. I think arbitration gave exparty dicision what will i do 3. Can time limition is applicable in this case as i heard from lawyer that no cliam is entertain after 3 year 4. What is limit of time in my case 3 year or 12 year as one lawyer said its 12 year 5. Once in police case i got clearance how can a company claim such amount from me 6. How can i safeguard my self 7. one lawyer suggest me that i have to file counter case against company. otherwise i have to go kerela for context case can i will do 8. if i filed any case can it affect on my currunt job 9. is my father property is in danger I filled case against legal notice in ambala and they gave arbitration award to court which is awarded on [deleted] order to pay amount 500000 with intrest I want to know these awards is valid as after 2014 notice for arbitration awards is now given in 2018 but I read about section 29a maximum time frame is one year Please guide me what to do And where I filled case against these awards I belong to Haryana and not be able to go kerela i am very much afraid about my this sir i am looking for your good advise what will i do i belong to a very poor family and not able to pay that much of amount. please help m
Kindly clarify whether award was passed by arbitrator ?
Does legal notice mention as result of arbitration proceedings?
If award is passed conpany can take put exection proceedings to attach your property
you ought to have filed suit to set aside award
1. As far as place is concerned, yes they can file a case in kerela. The limitation period has to be seen if more information is gathered.
2. Arbitration award has to be executed in court, if it is not, you don't have to worry about that.
3. The limitation period is provided. although condonation of delay and other options are available to the petitioner. Please provide more detail in order to enable me to answer on this more correctly.
4. Recovery Suit's Limitation is 3 years, but the arbitration would have been going on.
5. This would be an arbitration award. Did you get the copy of the award? or any notice regarding arbitration proceedings?
6. will have to take a look at your bond, contract and the arbitration award.
7. Filing a counter case would not help you in setting aside the claim. It is only a tactic to harass the company but this won't work.
8. No need to file a case
9. No, this will have to effect on your father's property.
Do you have to copy of the arbitration award? was this sent to you ?
If you can show me the contract, award and bond, I can help you further.
The award will be enforced as decree of civil court. The award will be executed from the court where you filed arbitration and enforced where the said person against whom it is filed
1.Yes, but you take stand of delay on the part of the company on various grounds.
2.You immediately challenge the decision of the arbitrator before the Hon'ble High Court by filing a writ.
3.Yes.
4.It is 12 years.
5.Police investigation have no bar on civil laws only it can be a ground to succeed in case.
6.By contesting the cases.
7.Yes, you can file a case of un-necessary harassment or false and frivolous recovery of dues.
8.No.
9.Yes, if not contested the proceedings before the different courts as the case may be.
1. The company is filing an execution petition based on the exparte decision given by the arbitrator against you, hence it is not barred by the three years limitation period. You may have to prefer an appeal against the arbitration award or judgment which was pronounced against you in your absence which is the only solution before you to avoid the payment.
2. Read the above answer.
3. Since the action for recovery through arbitration was taken on time, it is not barred by limitation.
4. For execution petition it is 12 years.
5. Yes, they can do it but you can challenge the same.
6. Read the first answer.
7. You have to go to Kerala for contesting the case, no counter case agaisnt the company at this stage is maintainable.
8. No
9. If that was given as collateral then it may be attached by a court order.
