SHAREKHAN LIMITED vs DARSHINI SHAH

Judgment text excerpt

Neeta Sawant Fc- ARBP-94-2024 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 94 OF 2024 WITH INTERIM APPLICATION NO. 6876 of 2025 Sharekhan Limited. …..Petitioner Digitally signed by NEETA : Versus : NEETA SHAILESH SHAILESH SAWANT Darshini Shah ….Respondent SAWANT Date: 2025.12.09 17:52:12 +0530 Mr. Prathamesh Kamat with Mr. Ativ Patel, Ms.Viloma Shah and Mr. Viraj Raiyani i/b. M/s. AVP Partners, for the Petitioner. Mr. Saurabh Bacchawat with Mr. Rajesh Khandelwal i/b. M/s. Juris Link, for the Respondent. CORAM : SANDEEP V. MARNE, J. Reserved On : 27 NOVEMBER 2025. Pronounced On : 09 DECEMBER 2025. Judgment: 1) Petitioner, a stock broker, has filed the present Petition under Section 34 of Arbitration and Conciliation Act, 1996 (Arbitration Act) challenging the Award dated 29 August 2022 passed by the Three Member Appellate Arbitral Tribunal constituted under the Byelaws of National Stock Exchange (NSE) dismissing the appeal preferred by the Petitioner and confirming the Award of the learned sole Arbitrator dated 26 April 2022. The learned sole Arbitrator, by Award dated 26 April 2022, had overruled the decision of the Grievance Redressal Committee (GRC) and had _____________________________________________________________________________ PAGE NO. 1 of 25 9 DECEMBER 2025 Neeta Sawant Fc- ARBP-94-2024 allowed the claim of the Respondent in the sum of Rs.4,87,513/- without any cost and interest. 2) Petitioner is a stoker broker registered under the Securities and Exchange Board of India (SEBI) and is in the business of share/stock broking and buying and selling of shares/stocks for and on behalf of its clients. Respondent is the client of the Petitioner. In September 2007, Respondent had approached the Petitioner to