Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Kaycee (Self Employed)     13 November 2013

Aritration

Dear All,

I want to file Arbitration proceedings against a share broking and trading firm.The firm has provided details of the transaction entered into ON-LINE.

The brokers provided me with trading limits.one day during intra day trading,the broker suddenly decided to block my trading limit.Till then I had lost money and was in the process of recovering the same when this happened.

I lodged a complaint with SEBI and the broking house has preferred the matter to be tried before the arbitrator.

I requested to the broking house for the copy of the recording to be sent to me.The broking firm has informed me that the recording is for their internal purpose and they shall present the same during the arbitration.

I have record of a recording sent to another client but a copy was also marked to me though by mistake!

Assistance requested from all is:

1) Can the broking firm deny me the recording on grounds of "internal purpose".IS this denial be termed as non-compliance,before proceeding with the arbitration or is there any other remedy or rule that can be adopted.

2) Can the brokers decide on the seat of arbitration.

3) DRAFT of the ARBITRATION document.

4) Time limit for filing the arbitration,if the date of knowledge is 13/11/2013.(Limitation Act 1963).

5) Costs/fees involved.

6) Is the agreement valid as it a printed leaflet,as has been indicated in some judgements.

7) Any other valuable advise that can be usefull

8) Case studies/links etc.

Thanking ALL in ADVANCE.



Learning

 2 Replies

Kaycee (Self Employed)     15 November 2013

Dear Adv.Firdaus,

Thank you very much for the great insight at length. I thank and respect you for your your efforts.

I have noted all your details and shall contact you soon. In fact I will be in Mumbai on 22/11/2014 in relation to another matter in the Co-op Appellate court.

We can then work out the logistics then. 

Well, in addition to all the valuable information that you have shared, I wish to know about the cost of filling the arbitration,fees of the arbitrator for hearing and all such expenses including incidental costs etc.

Sunil S Nair (lawyer)     22 May 2014

Time limit for filling arbitration is three years , there shall generally be clause stating stipulated period for arbitration ,Broker cannot decide alone on the seat of arbitration unless you allow him to do so or it is mentioned in any agreement between both of you, take in writing from the broker firm reasons for denying records,  If you dont want arbitration the next opportunity before you is filling the case before consumer court because civil court will generally not entertain matters referred to arbitration


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register