KOTAK SECURITIES LTD. Vs. ALICE FRANCIS

JUDGEMENT

(1.) The appellant company is a trading member with the National Stock Exchange and the Bombay Stock Exchange. The first respondent is a stock trader who conducted transactions through the appellant company in the National Stock Exchange and the Bombay Stock Exchange.

(2.) The dispute that arose between the first respondent and the appellant was referred to arbitration. On 13.09.2007, the arbitrator passed an award finding that the application for arbitration made by the first respondent was barred by limitation. The arbitrator did not consider the other issues relating to the dispute.

(3.) The first respondent filed application under section 34(1) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') in the District Court, Palakkad challenging the award passed by the arbitrator.