RAM KAWAR GARG vs BAJAJ CAPITAL INVESTOR SERVICES LIMITED NOW NEW NAME IS JUST TRADE SECURITIES LIMITED & ORS.

Judgment text excerpt

$~J * IN THE HIGH COURT OF DELHI AT NEW DELHI Judgment reserved on: 20.03.2025 Judgment pronounced on: 01.07.2025 + O.M.P.(COMM.) 83/2024 RAM KAWAR GARG .....Petitioner Through: Petitioner in person. versus BAJAJ CAPITAL INVESTOR SERVICES LIMITED NOW NEW NAME IS JUST TRADE SECURITIES LIMITED AND ORS. .....Respondents Through: Mr. Dhruv Dewan, Ms. Smarika Singh, Ms. Yashna Mehta, Mr. Arjun Singh Rana, Ms. Sanjukta Roy, Advs. for R-1. Mr. Sujoy Sur, Mr. Aubert Sebastian, Mr. Vedant Kumar, Advs. R-2&3. Mr. Ashish Aggarwal, Mr. Rahul Malik, Ms. Shivangi Shokeen, Advs. for R-4. CORAM: HON’BLE MR. JUSTICE JASMEET SINGH JUDGMENT Digitally Signed By:MAYANK Signing Date:01.07.2025 O.M.P.(COMM.) 83/2024 Page 1 of 45 16:34:50 : JASMEET SINGH, J 1. This is a petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for brevity “the Arbitration Act”) seeking to challenge the Appellate Arbitral Award dated 31.07.2015 (for brevity “the Appellate Award”) whereby the Appellate Arbitral Tribunal dismissed the appeal of the petitioner against the Original Arbitral Award dated 16.05.2014 (for brevity “the Original Award”) vide which the Original Arbitral Tribunal dismissed the claim of the petitioner of Rs. 2.25 crores against the respondent No. 1. 2. In the present case, the respondent No. 1 is the stock broker, respondent No. 2 is the National Stock Exchange of India Limited (for brevity “the NSE”), the respondent No. 3 is the Arbitration Department of the NSE and the respondent No. 4 is the Securities and Exchange Board of India (for brevity “the SEBI”). FACTUAL BACKGROUND 3. The brief facts of the case as per the pleadings are that on 13.07.2007, the petitioner entered into a Member Client Agreement (for brevity “the MCA”) with the respondent No. 1. According to th