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Supreme Court Allows Appeal, Upholds Arbitral Award Holding Husband Jointly and Severally Liable for Wife's Debit Balance in Stock Trading Account — Oral Contract for Joint Liability Falls Within Scope of BSE Bye-law 248(a) Arbitration Clause.

The Supreme Court allowed the appeal filed by AC Chokshi Share Broker Private Limited against the order of the Bombay High Court's division bench, whi...

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Supreme Court Holds Section 15J Factors Illustrative in SEBI Penalty Adjudication. Adjudicating Officer Retains Discretion to Consider Mitigating Circumstances Beyond Stipulated Factors Under SEBI Act.

The Supreme Court of India adjudicated a reference arising from multiple civil appeals concerning the interpretation of Section 15J of the Securities ...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broker Dispute Over Unreturned Shares. Concurrent findings of arbitral tribunals that stock broker failed to return client's shares and dividends upheld under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Manoj Javeri Stock Broking Pvt. Ltd., a member of the Bombay Stock Exchange, challenged an arbitral award and appellate award dated 17...

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broker Dispute Over Unreturned Shares. Concurrent findings of arbitral tribunals that stock broker failed to return client's shares and dividends upheld under Section 34 of Arbitration and Conciliation Act, 1996.

The petitioner, Manoj Javeri Stock Broking Pvt. Ltd., a member of the Bombay Stock Exchange, challenged an arbitral award and appellate award dated 17...

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Bombay High Court Allows Appeal Against Setting Aside of Arbitral Award on Ground Not Raised by Petitioner. Court holds that a party cannot challenge an arbitral award on a ground that only aggrieves the opposite party, who has not challenged the award.

The appeal arose from an order of a learned single Judge on a petition under Section 34 of the Arbitration and Conciliation Act, 1996 filed by the res...

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Bombay High Court Sets Aside Arbitral Award in Stock Broker Dispute — Violation of NSEIL Rules Renders Award Contrary to Public Policy. Trading Member's Squaring Off of Defaulting Client's Position Upheld as Permissible Under Bye-Laws, Award of Damages for Loss of Higher Price Set Aside.

The petitioner, M/s. Ventura Securities Limited, a trading member of the National Stock Exchange of India Ltd. (NSEIL), challenged an arbitral award d...

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Bombay High Court Allows Arbitration Petition and Interim Application in Share Dispute — Appointment of Arbitrator and Injunction Granted. Court holds that disputes regarding share transfer and oppression are arbitrable and appoints arbitrator under Section 11 of the Arbitration and Conciliation Act, 1996.

The petitioner, Kantilal Chhaganlal Securities Pvt. Ltd., filed an Arbitration Petition under Section 11 of the Arbitration and Conciliation Act, 1996...