KOTAK SECURITIES LTD. Vs. MEENAKSHI SAXENA & ANR.

JUDGEMENT

(1.) Exemption allowed subject to just exceptions.

(2.) THE challenge by means of this first appeal under Section 37 of Arbitration and Conciliation Act, 1996 (hereinafter referred to as "the Act") is to the impugned order dated 4.2.2011 passed by the trial Court dismissing objections of the appellant under Section 34 of the Act. The facts of the case are that respondent No. 1/client entered into a Member Client Agreement with the appellant/broker. Pursuant to the agreement, transactions/trades were carried on between the parties. As per the case of respondent No. 1, since the appellant wrongly carried out three trades as a result of which respondent No. 1 suffered losses, arbitration claim was filed by her, and which resulted in an Award in her favour. The three relevant trades are as under: -

(3.) THE trial Court in the impugned order has reproduced the following portion of the Award, though which is lengthy, but since, the same exhaustively sets out the disputes and conclusions of the Arbitrator, I would seek to reproduce the same as under: -