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Case Details |
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Case Code: LAW013
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| Case Length: 9 Pages |
| Period: 2014 - 2016 |
| Pub Date: 2017 |
| Teaching Note: Available |
| Price: Rs.400 |
| Organization : National Stock Exchange (NSE) |
Industry : Securities market and capital market
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| Countries : India |
| Themes: Arbitration Mechanism at NSE for resolution of Disputes
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Application of Margin Trading Rules: A Dispute at National Stock Exchange |
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INTRODUCTION |
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On May 15, 2016, Nature Investments (Nature) filed an application with the Appellate Tribunal of the National Stock Exchange (NSE) (see Exhibit-I), Hyderabad Regional Center seeking a review of the award passed by the panel of arbitrators on Nature’s claim against Perfect Stock Brokers Pvt Ltd (Perfect). Nature, a Hyderabad based partnership firm involved in trading and investments in securities, claimed Rs.7,456,000 (Rupees seven million, four hundred and fifty six thousand only) from Perfect as against the award of Rs.1,230,231 (Rupees one million, two hundred and thirty thousand, two hundred and thirty one only) passed by the panel of arbitrators. The claim was with reference to a disputed transaction unilaterally carried out by Perfect on the National Stock Exchange (NSE).
Perfect was a registered trading member with the NSE, the leading stock exchange in India. Incorporated under the Companies Act, 1956, it was one of the leading stock broking companies in India. Perfect had evolved from a standalone brokerage firm into a multiproduct and service company over a period of 50 years. It provided a comprehensive gamut of financial advisory services to institutional and individual clients. ....
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