P.Velusamy v. Fairwealth

In the High Court of Judicature at Madras Dated : 15.04.2016 Coram :

The Hon'ble Mr.Sanjay Kishan Kaul, Chief Justice O.P.No.698 of 2015 P.Velusamy .. Petitioner -vs1.Fairwealth Securities Ltd., Regd. Office Plot No.651-652, Udyog Vihar, Phase-V, Gurgaon.

2.The National Stock Exchange of India Limited, 2nd Floor, Ispahani Centre, Door No.123/124, Nungambakkam High Road, Nungambakkam, Chennai.

.. Respondents Petition filed under Section 11 (1) read with Section 12 (1) of the Arbitration and Conciliation Act, 1996, to appoint an arbitrator for dispute arising between the applicant and first respondent. For Petitioner : Mr.C.B.Muralikrishnan For Respondents : Mr.J.Thiruvenkataswamy for R-2 : No appearance for R-1 * * * * *

O R D E R

It is conceded by the learned counsel for the petitioner that the mechanism for settlement of disputes as envisaged is available as per the by-laws of the second respondent and therefore, he is willing to have arbitration in terms thereof. This is also acceptable to the learned counsel for the second respondent. The first respondent has chosen to stay away from the proceedings.

2.In view thereof, the procedure as under the by-laws may be followed for appointment of the Arbitrator. 3.Original petition stands disposed of leaving the parties to bear their own costs.

(S.K.K., CJ.) 15.04.2016 sra

The Hon'ble Chief Justice (sra) O.P.No.698 of 2015 15.04.2016