PRUDENT BROKING SERVICES PRIVATE LIMITED Vs. POONAM MAHESHWARI

JUDGEMENT

(1.) The appeal has been heard by way of video conferencing.

(2.) Present appeal has been filed challenging the Arbitral Award dated 12th April 2019 and the order dated 21st May 2020 passed by the District Judge whereby the petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') by the appellant was dismissed.

(3.) Learned counsel for the appellant submits that the learned District Judge did not consider the evidence on record and failed to note that payments of brokerages were paid on several occasions by the respondent in accordance with appellant's interpretation of the brokerage tariff sheet. He emphasises that the District Judge erroneously interpreted the brokerage tariff sheet without appreciating the entire transaction, the contract as well as the conduct of the parties. He submits that the District Court ought to have applied the principle that once the parties have acted in a particular manner under a contract, the same should be taken to be the 'accepted understanding' of the contract.