Bombay High Court Dismisses Revision Application Challenging Execution of Arbitral Award, Rejecting Argument that Only Debt Recovery Tribunal Had Jurisdiction. Arbitral Award for Loan Recovery Upheld as Respondent Finance Company Not Notified as Financial Institution Under Section 2(h) of Recovery of Debts Due to Banks and Financial Institutions Act, 1993, and Therefore Section 18 Did Not Oust Arbitrator's Jurisdiction.
2 Aug 2011The dispute arose when the petitioners borrowed money from the respondent and failed to repay, leading the respondent to invoke arbitration under the ...
