MOTILAL OSWAL FINANCIAL SERVICES LIMITED Vs. RUPESH KUMAR

JUDGEMENT

(1.) By this Petition filed under Sec. 34 of the Arbitration and Conciliation Act, 1996 [for short, "the Arbitration Act"], the challenge is to the Award dtd. 18/8/2025 and corrected Award dtd. 27/10/2025 passed by learned Arbitral Tribunal allowing the claim of the Respondent for sum of Rs.39,37,498.00 along with interest and costs of litigation.

(2.) The Petitioner is registered stock broker with National Stock Exchange of India Limited and Bombay Stock Exchange Limited and the Respondent is high frequency investor in stock market registered with the Petitioner. On 27/5/2024, the Respondent had open trading position in MIDCAP NIFTY options and as the ledger balance fell below the contractual mandated 25% security cover, as claimed by the Petitioner, the Respondent's open position was squared off on 27/5/2024 at around 13:30:55 hours. The Respondent contended that square-off was unauthorized and claimed the following amounts:

(3.) By the impugned Award, the claim was allowed, hence the present Petition.