Arbitration clause in builder buyer agreement
I have purchased a under construction flat from a builder in Noida. I have paid 90% of money abd possession was due in Feb'14 . But builder has not given possession yet and there is no certainty of possession in coming 2 yrs also. And quality of flat constructed is also very poor .So , i wrote builder to resolve all these issue. The builder responded by saying they have appointed an arbitrator as per clause of builder buyer agreement and sent me a letter.
The clause read as follows : " That all disputes or disagreements arising out of , in connection with or in relation to the allotment which can not be amicably settled , shall be finally decided by arbitration and the sole arbitrator in such a case shall be appointed by the company and other provision of Indian Arbitration and Conciliation Act 1996 , or any amendment thereof shall be applicable."
So , now my question is "Can a buyer be forced into arbitration by invoking arbitration clause in builder buyer agreement. ?? " Is it legal to appoint an arbitrator unilaterally without my consent as per law of land.Can i still move district consumer forum and file an appeal for deficiency in services against builder. Or any other legal remedy which you can suggest me. I don't want to take possession of flat as it's being delayed very much and instead want a compensation with 18% per annum interest rate. So kindly advice me on these issue.
Asked 9 years ago in Business Law
Ashish Ji ,
I got opinion of some other lawyers that i can move consumer forum despite of arbitration clause. Also , now i don't want possession of flat as its being delayed and not ready till date. And want builder to give compensation @ 24% per annum.
Asked 9 years ago
Sir ,
So, can i move consumer forum easily.?? And also arbitration proceeding will go parallel.So whose decision will be final. Arbitration or consumer forum?? Is arbitration decision binding. Or it can be challenged in court. Is there a way i can opt out of arbitration? i am interested in consumer forum only. As i know arbitrator is biased as builder appointed him. Please advice sir.
Asked 9 years ago