Without declaring NPA and issuing notice such order is illegal. File Writ in High Court for immediate releif.

A petition of writ before the HC can be filed praying to quashing such order of freezing arbitrarily without giving due notice and declaring account NPA.

The power of the Arbitral Tribunal to grant interim relief is not less than that of a regular Court, which has the power to grant interim order under Section 9 of the Act. Section 17(1) (b) and (e) of the Act contain expressions that are of great import. The Arbitral Tribunal can pass an order for securing the amount in dispute in the arbitration and can order such other interim measure of protection, as may appear to it to be just and convenient. It is also made clear that the Arbitral Tribunal shall have the same power for making orders as a Court has for the purpose of and in relation to any proceeding before it.

2) whenever the Arbitral Tribunal passes an interim order under Section 17 of the Act, it has to follow the procedure laid down under Section 136 of CPC. Whenever the District Judge receives communication from another Court for enforcement in terms of Section 136 of CPC, he will immediately forward the order to the Nazir section for implementation. The recipient court will have not have any difficulty because the process fee would have been remitted in the court which passed the order. But, in the case of an Arbitral Tribunal, there is no scope for receiving the process fee. It will have to be necessarily remitted only in the court by the party in whose favour the interim order has been passed. In the very nature of things, this remittance will have to be made in the Nazir section of the District Court.

3) you can file appeal against interim order under section 37 of arbitration act 

1. Obviously there could be some inadvertent error by the Arbitrator, since without conducting hearing proceedings, involving your statements, the Bank Accounts cannot freeze under any circumstances, more specifically for 2 pending EMI's and not declared as NPA.

2. Obtain the said order and based on the order, File Revision Application before the relevant Authority, for proper adjudication, based on your existing available documentary evidences.

DEAR SIR,

You are suggested to challenge the order of the arbitrator in the court of District Judge of place where the arbitrator has passed the order.  

1. Well, it appears that an arbitration proceeding has been initiated and the arbitrator has passed an interim order on freezing your account.

2. So appear in the proceeding and apply for defreezing the account .

3. If your application is rejected by the arbitrator then you can prefer appeal in the high court as well.

4. I am sure in the loan agreement there was arbitration clause.

Held that the arbitrator has no authority nor any power to give a declaratory award. Such an award is bad in law. Placing of reliance by the Arbitrator on the 'Will' alleged to have been executed by...decide the right of a person who was not party to the reference.

Various judgments regarding arbitration proceedings has clearly state that the arbitrator can pass an award but he cannot issue orders especially the ones like he has passed now to freeze the bank account.

You may challenge the same before high court and get it set aside.

You need to appeal against the same in order to vacate it

Section 34 of the arbitration and conciliation act, 1996 is the remedy you have and the appeal will lie before the High Court. You have 30 days to file appeal. You can also refer section 16 of the arbitration and conciliation act.

1. NBFC cannot proceed against you until your account become NPA.

2. You should file writ petition in high court against order of arbitrator which was against the law as he have not given any opportunity to you to represent your case before issuing interim order.