Section 9 in Jammu and Kashmir Protection of Interests of Depositors (In Financial Establishments) Act, 2018
9. Pre-Institution Mediation and Settlement.
(1)A suit, which does not contemplate any urgent interim relief under this Act, shall not be instituted unless the plaintiff exhausts the remedy of pre-institution mediation in accordance with such manner and procedure as may be prescribed by rules made by the High Court.(2)The High Court may, by notification, authorize the Authorities constituted under section 89 of the Code of Civil Procedure, Samvat 1977 or under the Jammu and Kashmir Legal Services Authorities Act, 1997, or any other institution, for the purposes of pre-institution mediation.(3)Notwithstanding anything contained in the Code of Civil Procedure, Samvat 1977 or the Jammu and Kashmir Legal Services Authorities Act, 1997, the mediation institution under sub-section (2) shall complete the process of mediation within a period of three months from the date of application made by the plaintiff under sub-section (1) :Provided that the period of mediation may be extended for a further period of two months with the consent of the parties :Provided further that, the period during which the parties remained occupied with the pre-institution mediation, such period shall not be computed for the purpose of limitation under the Limitation Act, Samvat 1995.(4)If the parties to the commercial dispute arrive at a settlement, the same shall be reduced into writing and shall be signed by the parties to the dispute and the mediator.(5)The settlement arrived at under this section shall have the same status and effect as if it is an arbitral award on agreed terms under sub-section (4) of the section 30 of the Jammu and Kashmir Arbitration and Conciliation Act, 1997.(6)The plaintiff shall have liberty to institute his suit, if he has made all reasonable efforts to invoke mediation in accordance with the provisions of this section and the defendant either fails to appear for mediation or does not give his consent for mediation.
