KRITIKA NAGPAL Vs. GEOJIT FINANCIAL SERVICES LTD.

JUDGEMENT

(1.) The Petitioner Original Respondent, has challenged award dated 24 September 2008, by invoking Section 34 of the Arbitration and Conciliation Act, 1996 (for short, the Arbitration Act).

(2.) The Petitioner appointed the Respondent to effect transactions on the Futures & Options Segment of National Stock Exchange of India Limited (for short, NSEIL).

(3.) On 22 January 2008, the Respondent as alleged squared off the outstanding positions of the Petitioner. The disputes and differences arose between the parties. The Petitioner filed a complaint against the Respondent with NSEIL. The Respondent filed a claim against the Petitioner to recover a sum of Rs. 35,19,225.42 together with interest at the rate of 12% p. a. . The petitioner filed written statement and a counter claim for a sum of Rs. 9,17,203.72 together with interest thereon at the rate of 18% p. a. .