
Dear Professional Seniors & Friends,
Warm Greeting!
Here is the Next post of #MCQ on concept based practical professional knowledge on Valuation of Inventory -II in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 96.1: Sanjay and Mohit partners in a partnership firm make an agreement in writing to refer a dispute between them in business to an arbitrator. Inspite of this agreement Sanjay files a suit against Mohit relating to the dispute in a court. With regard to above answer the following questions.
A. The jurisdiction of court is ousted as a valid arbitration agreement exists
B. Court has jurisdiction over the matter and it overpowers arbitration agreement and such dispute cannot be referred to jurisdiction
C. Sanjay can file an appeal in Court only against arbitral award
D. Both A and C
MCQ 96.2: If in the above case the Sanjay and Mohit are brothers and they enter into agreement to refer genuineness of a will to arbitrator. Inspite of this agreement Sanjay files a suit against Mohit relating to the dispute in a court. With regard to above answer the following questions.
A. The jurisdiction of court is ousted as a valid arbitration agreement exists
B. Such dispute cannot be referred to arbitration it, can only be referred to court.
C. Sanjay can file an appeal in Court only against arbitral award
D. Both A and C
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CA Sanjay Kumar Agrawal
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Dear Professional Seniors & Friends,
Warm Greetings!
This post of MCQ is on provisions relating to The Arbitration and Conciliation Act, 1996.
Answer MCQ 96.1: C. The jurisdiction of court is ousted as a valid arbitration agreement exists
Answer MCQ 96.2: B. Such dispute cannot be referred to arbitration it, can only be referred to court.
Practical Analysis for MCQ 96.1:
Based on the above analysis Answer to MCQ 96.1: C The jurisdiction of court is ousted as a valid arbitration agreement exists
Practical Analysis for MCQ 96.2:
Basis of above analysis Answer to MCQ 96.2 B. Such dispute cannot be referred to arbitration it, can only be referred to court.
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
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