MR. JAGADEESA G. CHARY vs NIRMAL BANG SECURITIES PVT. LTD.

ARBP.410.2014.Final.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 410 OF 2014 Jagadeesa G. Chary …Petitioner Versus Nirmal Bang Securities Pvt. Ltd. …Respondent Ms. Prachi Pandya i/b. Corporate Attorneys, for the Petitioner. Mr. Naushad Engineer, Senior Counsel, a/w. Sharad Parbat, i/b Ajay Khandhar & Co., for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. RESERVED ON : February 21, 2025 PRONOUNCED ON : June 9, 2025 JUDGEMENT: Context and Factual Background: 1. This is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act”) impugning an Arbitral Award dated October 15, 2013 (“Appellate Award”), which in turn is an affirmation of another Arbitral Award dated April 15, 2013 (“ Primary Award”), rejecting the Petitioner’s claims against the Respondent in arbitration proceedings conducted at the National Stock Exchange (“NSE”). Digitally 2. The Petitioner had demanded refund of a sum of Rs. signed by AARTI AARTI GAJANAN GAJANAN PALKAR PALKAR Date: 2025.06.09 14,87,014.43, which the Petitioner claims is not payable by him by 15:49:46 +0530 June 9, 2025 Aarti Palkar ARBP.410.2014.Final.doc rea