This order dismissed the petitioner's application seeking revival of claims before the National Stock Exchange of India. The held that NSE's advice to file fresh arbitration proceedings was correct and did not warrant judicial interference.
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TARUN GUPTA ..... Petitioner Through: Ms.Aastha Dhawan and Ms.Shaini Bhardwaj, Advs.
versus
M/S FIRST GLOBAL STOCK BROKING PVT LTD ..... Respondent Through: Mr.Raghav Kalker, Adv.
CORAM:
HON'BLE MR. JUSTICE NAVIN CHAWLA
O R D E R
This application has been filed by the petitioner/applicant inter-alia praying for the following relief:
“a. Direct that the claims already filed by the Petitioner be revived by the NSE and decided in light of the order dated 10th December, 2018.”
This Court by its order dated 10.12.2018 passed in OMP 686/2012, while setting aside the Arbitral Award and the order passed by the Appellate Tribunal constituted by the National Stock Exchange of India Limited (NSEIL) had granted liberty to the petitioner to initiate appropriate proceedings for making its claim against the respondent.
Pursuant to this liberty, the petitioner approached NSEIL by its e-mail dated 16.01.2019 seeking revival of the earlier arbitration proceedings.
NSEIL by its e-mail dated 18.01.2019 has, however, advised the petitioner to file fresh arbitration case.
The petitioner being aggrieved by this e-mail has filed the present application.
I find the approach of the NSEIL to be correct and not warranting any interference by this Court. The application is, therefore, dismissed, with no order as to cost.
NAVIN CHAWLA, J
FEBRUARY 05, 2019/Arya
2 issues framed by the court
Whether the High Court should interfere with the National Stock Exchange of India's directive for the petitioner to file fresh arbitration proceedings instead of reviving earlier ones.
Whether the Arbitral Tribunal has the authority to decide claims already filed by the petitioner.
Tarun Gupta
M/S First Global Stock Broking Pvt Ltd
Navin Chawla
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
