PRAMOD JAINARAYAN JAJU Vs. KOTAK SECURITIES LTD

JUDGEMENT

(1.) HEARD finally.

(2.) THE Petitioner has invoked Section 34 of the Arbitration and conciliation Act, 1996 (for short, the Act), thereby challenged an award dated 27th January, 2009. The operative part of the award is as under:

(3.) THE agreement itself provides a cla, whereby, the Petitioner has permitted the Respondent to do the bnetrade on both the Stock Exchanges i. e. National Stock Exchange (NSE) and Bombay Stock Exchange (BSE ). Having once agreed and ardingly acted since 2007, and the objection that such composite demand of the claim as awarded, is without jurisdiction, also unaptable. There is no dispute that BSE and nse have their own byelaws, Rules and Reations but in the present case, as the Petitioner participated without any objection, and as there is no bar, to direct to pay the amount after due settlement. The mion, in this regard, in my view, is diffit to apt now. As per cla 26 of the memberclient agreement, the Tribunal has jurisdiction.