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Bombay High Court Dismisses Petition Challenging Arbitrator's Award in Stock Exchange Dispute. Claim Barred by Limitation Under NSE Bye-Laws as Last Transaction Occurred on 25th January 2008 and Six-Month Period Expired on 25th July 2008.

The petitioner, DBS Cholamandalam Securities Ltd, filed an Arbitration Petition under Section 34 of the Arbitration and Conciliation Act, 1996, challe...

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Supreme Court Remands NSE Penalty Case to SAT for Reconsideration of Quantum of Punishment. Circular vs Bye-law Conflict on Suspension and Fine Limits Requires Fresh Examination.

The Supreme Court of India heard a civil appeal filed by M/s PRRSAAR through its proprietor Ved Prakash Gupta against the National Stock Exchange of I...

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Bombay High Court Dismisses Writ Petition Challenging RBI Circular on Resolution of Stressed Assets. Circular dated 12.02.2018 held to be valid and within RBI's powers under Sections 35A and 35AB of the Banking Regulation Act, 1949.

The petitioners, Jayaswal Neco Industries Limited and Jayaswal Holdings Private Limited, filed a writ petition under Article 226 of the Constitution o...

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Bombay High Court Dismisses Appeal Under Section 37 of Arbitration and Conciliation Act, 1996 — Upholds Arbitral Award Holding Stockbroker Liable for Unauthorized Trades by Agent. Broker Failed to Prove Client Authorization for Disputed Trades, Resulting in Compensation of Rs.14,37,200/- to Client.

The case involves an appeal under Section 37 of the Arbitration and Conciliation Act, 1996, filed by IIFL Capital Services Limited (formerly IIFL Secu...

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Bombay High Court Allows Appeal Against Dismissal of Interim Injunction in Share Dispute Case. Court Restrains Transfer of Shares Allegedly Misappropriated Pending Suit, Holding That a Prima Facie Case of Fraud and Breach of Trust Was Made Out.

The appellant, Pushpanjali Tie Up Pvt. Ltd., filed a suit alleging that respondent No.1, Renudevi Choudhary, and respondent No.2, Ekta Choudhary (her ...

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Bombay High Court Partially Allows Arbitration Petition Challenging Rejection of Counterclaim on Limitation Grounds. Court holds that limitation for counterclaim in arbitration under BSE Byelaws runs from date of filing of claim, not from accrual of cause of action.

The Petitioner, Hansraj Sohanlal Gouthi, HUF, through its Karta Ravi Gouthi, challenged an arbitral award dated 13 July 2009 passed by the Arbitral Tr...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Broker-Client Dispute. Court Upholds Award Directing Payment of Rs.1,58,39,459.87 but Refuses Interest and Costs Under Section 34 of Arbitration & Conciliation Act, 1996.

The appellant, Harinarayan Bajaj, entered into various share transactions on the Bombay Stock Exchange (BSE) through the respondent, Madhukar Sheth, w...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Favor of Client Against Trading Member for Unauthorized Trades. Award of Rs.6,59,634.54 with interest upheld as not patently illegal under Section 34 of the Arbitration and Conciliation Act, 1996.

The petitioner, Angel Broking Private Limited, a trading member, challenged an arbitral award dated 29 August 2009 passed by a sole arbitrator appoint...