MONEY NAIR Vs. SHAREKHAN LTD.

JUDGEMENT

(1.) Admit. The parties have filed short synopsis and written notes of submissions. The appeal is taken up for final hearing, by consent.

(2.) The appellant has preferred this appeal under Sec. 37 of the Arbitration and Conciliation Act, 1996 (for short, "the Act") against Judgment dated 13 -3 -2015 passed by a learned single Judge, thereby rejecting the arbitration petition under Sec. 34 of the Act, that resulted into confirmation of the Award passed by learned Arbitrator under the provisions of the Bye -laws, Rules and Regulations of the National Stock Exchange of India Limited (NSE).

(3.) Heard learned Senior Advocate appearing for the appellant. Insofar as availability of the Appellate Forum under the NSE is concerned, the learned single Judge, after hearing the parties, has passed the order in the Sec. 34 petition of the year 2010 and thereby maintained the Award passed by the learned Arbitrator of the year 2009. Submission is also made by the learned counsel for the appellant that option was available for the parties either to file an appeal before the Appellate Forum under NSE and/or file a petition under Sec. 34 of the Act. Learned counsel appearing for the respondent, however, resisted the contention saying that there is no question of remanding the matter back for reconsideration before the Appellate Forum. Without expressing any opinion so far as that part is concerned, including the issue of availability of the Appellate Forum as there was no objection raised before the learned single Judge and both the parties proceeded accordingly. The reasoned Judgment is passed by the learned single Judge on merits. Therefore, to avoid further delay in finalising the arbitration proceedings, we see no case to consider the aspect of availability of appeal in the present facts and circumstances of the case. The point is kept open.