Supreme Court · 2004 INSC 694 · Decided 6 December 2004
Harinarayan G. Bajaj v. Rajesh Meghani and ANR.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 694 · [2004] SUPP. 6 S.C.R. 721
- Case number
- CIVIL APPEAL No. 7890/2004
- Decided
- 6 December 2004
- Bench
- RUMA PAL, ARIJIT PASAYAT, C.K. THAKKER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 34, 2(h)
Headnote
Securities Contract (Regulation) Act, 1956; Ss. 3(2), 8, 9/National Stock Exchange Rules and Byelaws; Rule 33, Byelaws 1, 1-C, 2 and 23 of Chapter XI and Byelaws 19, 26 and 28 of Chapter XII : Trading in shares-Purchaser defaulted in making payment-Broker declared defaulter by National Stock Right of defaulting member/broker in filing claim-Held : .Ex-trading member/defaulter remains party to the arbitration agreement and Bye/aw 1-C does not restrict the right of the defaulter to refer the claim for arbitration-Defaulter's Committee precludes from referring
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