POORNIMA SWAMY Vs. SMC GOLBAL SECURITIES LIMITED

JUDGEMENT

(1.) Mr.A.R.Holla, learned counsel for appellant. Mr.Shreyas Jain, learned counsel for respondent. This appeal under Sec. 37(1) of the Arbitration and Conciliation Act , 1996 (hereinafter referred to as 'the Act' for short) has been filed against the order dtd. 30/9/2015 passed by the trial Court, by which objections preferred by the appellant under Sec. 34 of the Act against award dtd. 8/1/2015 passed by the panel of arbitrators has been dismissed.

(2.) The appellant is resident of Bengaluru and had invested her savings in the share. The respondent is a company engaged in the business of share broking and is a registered member of National Stock Exchange of India Limited. The appellant, in sometime in the year 2013 opened an account with the respondent in Bengaluru. Thereafter, the respondent sold shares of the appellant worth Rs.33,90,239.33. However, only an amount of Rs.7,26,921.00 was paid to the appellant. When the appellant demanded the balance amount from the respondent, she was told that her money was invested in shares and subsequently the same has been lost in share transactions.

(3.) The dispute between the parties were referred to the Arbitration. The panel of Arbitrators passed an award dtd. 8/1/2015, by which claim of the appellant was dismissed. Being aggrieved by the same, the appellant filed objections under Sec. 34 of the Act challenging the award passed by the panel of Arbitrators. However, the aforesaid objections has been dismissed by the trial Court vide order dtd. 30/9/2015. In the aforesaid factual background, this appeal has been filed.