Madras High CourtArb Appeal(MD)/50/2026disposed of

Nirmal Bang Securities Pvt., Ltd., v. Mr.K.Kamalakannan,

2026-06-05Honourable Mr Justice V. Lakshminarayanan4 pages

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 05.06.2026

CORAM

THE HONOURABLE MR.JUSTICE V.LAKSHMINARAYANAN and C.M.P.(MD)Nos.6779 and 6782 of 2026 Nirmal Bang Securities Private Limited, Having its Registered Office Address at 101-701, B Wing, 4th Floor, Khandelwal House, Poddar Road, Malad (East), Mumbai, Maharashtra, 400 097, Represented by its Authorised Signatory, Mr.Arul Sevam, Now Mr.R.Vijayakumar ... Appellant vs.

Mr.K.Kamala Kannan, S/o.Not known, 35, John Selvaraj Nagar, Thandanthottam, Kumbakonam, Tamil Nadu, 6122021 PAN : ATKPK1095J ... Respondent PRAYER: Arbitration Petition filed under Section 37(1)(2) of the Arbitration and Conciliation Act, 1996, to call for the entire records pertaining to the fair and decreetal order made in Arb.O.P.No.96 of 2025, dated 13.03.2026 by the learned Principal District Judge, Thanjavur, confirming the Arbitral award passed by the Sole Arbitrator in Arbitration Case No.NSE-SB-2024-09-251845 dated 16.01.2025 and set aside the same by allowing this appeal. 1/4

For Appellant : Mr.Kandarp Trivedi For Mr.R.L.Dhilipan Pandian For Respondent : Mr.K.Kaviarasan

JUDGMENT

Heard Mr.Kandarp Trivedi for Mr.R.L.Dhilipan Pandian appearing for the appellant and Mr.K.Kaviarasan for the respondent.

2. Today, when the matter was taken up, Mr.R.Vijayakumar, the authorised representative of the appellant, was present, and Mr.K.Kamala Kannan appeared in person.

3. I heard the parties and their respective counsel.

4. The arbitration proceedings had been initiated on account of the fact that the respondent had reported certain unauthorised trading at the instance of the appellant. It resulted in an award against the appellant on 11.01.2025. The petition to set aside the award came to be dismissed by the learned Principal District Judge, Thanjavur, on 13.03.2026. Aggrieved by the same, the present appeal has been filed invoking Section 37 of the Arbitration and Conciliation Act, 1996.

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5. Insofar as the terms of the compromise are concerned, Mr.K.Kamala Kannan is agreeable to all the clauses other than Clause No.7. He stands by his statement that the trading carried on by the appellant was unauthorised. However, he wants to put an end to the agony of the litigation, by entering into the terms of compromise. He agrees that he has received the demand draft in terms of Clause 6(3).

6. Hence, the compromise is recorded with respect to all the terms other than Clause No.7. The appeal stands disposed of accordingly. The terms of compromise shall form a part of this order. There shall be no order as to costs. Consequently, the connected miscellaneous petitions are closed.

05.06.2026 Index :Yes / No Internet :Yes / No NCC :Yes / No Nsr Note: Issue Order Copy on 09.06.2026.

To:

The Principal District Judge, Thanjavur.

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V.LAKSHMINARAYANAN, J.

Nsr 05.06.2026 4/4