Nature of grievance

ARBITRATION FOR MONEY LENT UNDER AN AGREEMENT THAT IT SHALL BE PAYABLE ON DEMAND: Where money is lent under an agreement that it shall be payable on demand, and where there exist any Arbitration Agreement between the Parties therein, Arbitration proceedings may be initiated for the recovery of said money, within 3 years (unless otherwise agreed) from the date when the money was lent, having regard to Article 21 of the Indian Limitation Act, 1963