KEYNOTE CAPITALS LTD Vs. ECO RECYCLING LTD

JUDGEMENT

(1.) By this petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for short "the Arbitration Act"), the petitioner has impugned the arbitral award passed by the second arbitral tribunal dated 16th May 2014 and also challenged the arbitral award dated 3rd September 2013 passed by the first arbitral tribunal- the arbitral tribunal of the National Stock Exchange of India Ltd. Some of the relevant facts for the purpose of the deciding this petition are as under :-

(2.) The petitioner is a "Trading Member" registered with the National Stock Exchange of India Ltd. and has been such a Trading Member since 30th July 1996 in the cash segment and since 5th October 2000 in the derivative segment and till date. The earlier name of the respondent was "Infotrek Syscom Ltd." which was changed to Eco Recycling Ltd. on 25th November 2011.

(3.) On 11th December 2010, the petitioner and the respondent entered into a detailed Contract (Client Registration) and executed several agreements/writings including Member Client Agreements in respect of the transaction to be carried out in the National Stock Exchange and Bombay Stock Exchange.