MOTILAL OSWAL FINANCIAL SERVICES LIMITED Vs. CHANDRABHUSHAN KUMAR

JUDGEMENT

(1.) This appeal has been filed challenging the judgment dtd. 28/6/2024 passed in Commercial Arbitration Case No. 22 of 2023 by the learned Additional Judicial Commissioner-III-cum-Presiding Officer, Commercial Court, Ranchi whereby the appeal has been allowed and the appellate arbitral award dtd. 15/9/2023 passed by the learned Appellate Arbitral Tribunal has been set-aside.

(2.) The prayer before the learned Additional Judicial Commissioner-III-cum-Presiding Officer, Commercial Court, Ranchi was made under Sec. 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act of 1996) for setting aside the appellate arbitral award passed on 15/9/2023 by the Appellate Arbitral Tribunal (hereinafter referred to as AAT) comprising of Presiding Arbitrator and 2 co-arbitrators. The original award was passed by the learned Arbitral Tribunal (hereinafter referred to as AT) vide award dtd. 8/5/2023.

(3.) The findings of the learned Commercial Court is recorded in paragraph 27 of the impugned order which is as under: