MAYANK VARIA Vs. MOTILAL OSWAL SECURITIES LTD

JUDGEMENT

(1.) HEARD finally. The petitioner has invoked under section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as the Act) and thereby challenged the Award passed by the sole Arbitral Tribunal constituted under the bylaws, rules and regulations of F & O Segment. There is no dispute that parties have entered into a contract as per the rules and regulations based upon which they treaded since long.

(2.) THE contract itself provides facilities of intimating the trade/business/transactions through Email also.

(3.) ADMITTEDLY, as recorded, the parties traded since October 2007 and now says that they never understood the transactions and/or the meaning of F and O trade done in the share market and/or never received the contract notes digitally, in no way sufficient to overlook the fact that admittedly, the petitioner deposited nearabout rupees 10 lakhs towards the transactions, based upon the agreement in question.