Legal Question in Business Law in India

IS the following clause included by ICICI Bank in Account Opening Form for savings bank account is legal:
27. Governing Law :
The laws of India shall govern these Terms. The Parties hereby agree that any legal action or proceedings arising out of the Terms shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of these Terms, which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.
Dr. Adarsh Kapoor, M.D., LL.B

Asked on 1/31/12, 7:03 pm

www.lawconcern.com S.Seshadri www.lawconcern.com

0 users found helpful

0 attorneys agreed

The whole agreement would have to be studied to advice.www.lawconcern.com offices in chennai and bangalore

Answered on 1/31/12, 10:12 pm

Aniruddha Pawse Aniruddha.P.Pawse Advocates

0 users found helpful

0 attorneys agreed

No it is arbitrary and one sided.

Answered on 2/02/12, 1:16 am

Keywords

Match Any Match All

Country

State

Area of Law