MPD ASSOCIATES PVT. LTD. vs ANGEL BROKING LTD. AND 2 ORS.

Judgment text excerpt

901-ARBP-1634-2014.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1634 OF 2014 MPD Associates Pvt. Ltd., A company incorporated under the provisions of the Companies Act, 1956, having its offices at 23, LSE, Pushp Vihar, New Delhi-110065 Through Managing Director- Dr. (Col.) M.P. Dhir …Petitioner Versus 1. Angel Broking Ltd., A company incorporated under the provisions of Companies Act, 1956, Having its offices at G-1, Akruti Trade Centre, Road No.7, MIDC, Andheri (E) Mumbai- 400093, and having its Delhi Office at Upper Ground Floor 4, Kanchanjungha Building,18, Barakhamba Road, New Delhi, New Delhi- 110001, Having Trading Member No.612,with Bombay Stock Exchange Ltd. 2. Arbitral Tribunal of Bombay Stock Exchange, consisting of Arbitrators: (i) Shri Suresh Thakur Desai, (ii) Shri Pradeep Nagori & (iii) Shri Pankaj Patel Registered Office at Floor 25, PJ Towers, Dalal Street, Mumbai-400 001. …Respondents Mr. Jash J. Dalia, Kabir Harpalani, for the Petitioner. Mr. Shyam Kapadia, with Durgesh Khanapurkar, Kanishk Varma i/by Desai & Diwanji, for the Respondents. Page 1 of 22 nd 2 December 2025 901-ARBP-1634-2014.doc CORAM DR. NEELA GOKHALE, J. RESERVED ON: 28th NOVEMBER 2025 PRONOUNCED ON: 2nd DECEMBER 2025 JUDGMENT: 1. The Petitioner has assailed the arbitral award dated 27 th March 2008 passed by a panel of three arbitrators, by way of the present Arbitration Petition filed under Section 34 of the Arbitration & Conciliation Act, 1996 (‘the Act’). 2. The facts of the case, in brief, are as under:- 2.1 A reference was made to the Arbitral Tribunal under the Rules, Bye - laws and Regulations of the Bombay Stock Exchange Limited (‘BSE’). 2.2 The Petitioner herein is a company incorporated under the Companies Act, 195