Is it too late to file for arbitration after a year has passed?

I had a problem with a contractor in Jaipur over a 90,000 rupee project that went wrong, but it’s been over a year since then. Now I feel so regretful I didn’t act sooner. Is it too late for me to file for arbitration? What are the timelines I should be aware of? I’m feeling really anxious about missing this chance.