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Bombay High Court Dismisses Appeal Against Arbitral Award Rejecting Counterclaim in Share Brokerage Dispute. Court upholds arbitral tribunal's finding that appellant failed to prove respondent's negligence in squaring off F&O contracts without notice.

The appellant, Avalon Investment Private Limited, was a client of the respondent, Mukesh Brokerage & Financial Limited, a share broker registered with...

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Bombay High Court Dismisses Challenge to Arbitral Award in Stock Broker Dispute — No Patent Illegality Found. Claimant's claim for refund of margin money and compensation for unauthorized trades upheld as arbitrator's findings of fact are final under Section 34 of Arbitration and Conciliation Act, 1996.

The judgment concerns two arbitration petitions under Section 34 of the Arbitration and Conciliation Act, 1996, challenging a common arbitral award da...

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Bombay High Court Dismisses Appeal in Stock Exchange Membership Dispute — Upholds Resolution Declaring Member Defaulter for Non-Payment of Security Deposit. Resolution Passed by Council of Management Valid Under Bye-Law 312 and Articles of Association.

The appellant, Sanjay Munot, was a member of the Pune Stock Exchange Limited (the respondent company) and carried on business as a share broker. In 19...

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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...

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Bombay High Court Dismisses Appeal Against Arbitral Award in Stockbroker Dispute, Upholds Limitation and Maintainability. The Court held that the claim was within limitation due to acknowledgement of debt and that the arbitration application was maintainable despite directors' disqualification.

The Appellant, Kaynet Finance Limited, a member-broker at the National Stock Exchange of India, was appointed by the Respondent, Verona Capital Limite...

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APPLICATION NO. 75 OF 2008

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Bombay High Court Dismisses Petition Challenging Arbitral Award in Stock Broking Dispute — No Interference Under Section 34 of Arbitration Act as Award Not Found to be Contrary to Public Policy or Suffering from Patent Illegality.

The petitioner, Bombay Construction and Engineering Pvt. Ltd., filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challen...