Religare Securities Ltd v. Umesh Babagonda Patil

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.740 OF 2015 Religare Securities Ltd.

...Petitioner

V/s.

Umesh B. Patil

...Respondent

Mr.A. Daver i/b Ms.Rinku Valanji for the Petitioner. Mr.Deepak Dhane i/b Joby Mathew & Associates for the Respondent. CORAM : R.D. DHANUKA, J.

DATE : 15TH SEPTEMBER, 2015.

P.C. :- 1.

By this petition the petition impugns the arbitral award dated 6th August, 2013 passed by the lower arbitral tribunal and the award dated 6th August, 2014 passed by the appellate arbitral tribunal under the bye-laws, rules and regulations of the National Stock Exchange. The petitioner was the original respondent in the arbitral proceedings and is a member of the National Stock Exchange. 2.

A perusal of both the awards clearly indicates that both the arbitral tribunals have rendered various findings of fact after considering the documents and evidence on record which in my view are not perverse. The claim of the respondent has been allowed by the lower arbitral tribunal and the appeal filed by the petitioner has 1/3

been rightly rejected by the appellate arbitral tribunal. Since the findings of fact rendered by both the arbitral tribunals are not perverse, this Court cannot interfere with such finding of facts under section 34 of the Arbitration & Conciliation Act, 1996. The petition is devoid of merits and is accordingly dismissed. No order as to costs. (R.D. DHANUKA, J.) 2/3

"Certified to be true and correct copy of original signed order." 3/3