DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES

<h1>DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES</h1>Author: <a title="Neeraj Aarora" href="http://www.articlesbase.com/authors/neeraj-aarora/245671.htm">Neeraj Aarora</a> Neeraj Aarora: AICWA, LLB, PGD (Cyber & DLTA), CFE (USA) Arbitration is an alternative dispute resolution mechanism provided by a stock exchange to resolve disputes between the trading members and between trading members & constituents (i.e. clients of trading members), in respect of trades done on the Exchange. This process of resolving a dispute is faster than other means of redressal by civil courts. Arbitration comes under the Arbitration and Conciliation Act 1996. The Act allows two options— conciliation and arbitration. Conciliation is similar to an out-of-court settlement where the parties find acceptable resolution and a stamp of legal finality is marked on the case. Arbitration, on the other hand, is a quasi-judicial mechanism where arbitrators decide on a case (like a judge or a bench) and pass an order which is called an arbitration award. However, the byelaws of the exchange provide the procedure for Arbitration. The investor can procure a form for filing arbitration from the <a href="http://www.hazenlegal.com/">concerned stock exchange</a>. All the cases have to be filed within 6 months of the dispute arising. In the recent judgment of Delhi High court in SMT BIBA SETHI Vs DYNA SECURITIES LTD, OMP NO. 63/2007 decided on 17th March, 2009 Hon’ble Judge, RAJIV SAHAI ENDLAW held that “the part of Byelaw 3 of Chapter XI of NSE Byelaws, to the  extend prescribing limitation of six months for reference of disputes/claims to arbitration is void. The time therefore will be governed by the limitation act.” The Judgment shall provide a relief to the thousand of investors who has to file the suits in the civil courts on expiry of six Months time for filing the claim with the arbitration. Normally, the broker uses delay/dilatory tactics with the client resulting into loss of opportunity of clients to invoke the arbitration clause. The clients are left with no option but to file suit in the civil court where the adjudication process takes a couple of year. Now, the clients can invoke the arbitration clause within three years i.e. the time prescribed by the law of limitations. The decision of the High Court would also result into <a href="http://www.sharefraud.com/">substantial reduction in the number of cases</a> filed in the civil court in last two years as these cases can now be adjudicated/referred to the summery proceedings of the arbitral mechanism of the   stock exchanges. Any Quarry Please Send the mail <a href="mailto:neeraj@hazenlegal.com">neeraj@hazenlegal.com</a>About the Author: Neeraj Aarora, Advocate
AICWA, LLB, PGD(Cyber Law), CFE 
Mb - +91-987143505. 011-27318700 
Email – <a href="mailto:nirajdp@gmail.com">nirajdp@gmail.com</a>

Professional Summary
I am a Law graduate, Cost Accountant & Certified Fraud Examiner, presently practicing as an advocate in Delhi Court,providing consultancy on the matter relating to the detection, prevention of cyber crime, collection of digital evidence remedial measures and filing & followup of cases in the court and other legal forum.

Empanelment/Consultant:-

Consultant to  1)  World Bank 2) Indusind Bank, Delhi
    
Arbitrator to “Multi Commodity Exchange of India”, New Delhi
 
Enrolled as an Advocate with “Bar Council of Delhi” , “Delhi High Court Bar Association” & Supreme Court Bar Association

Qualifications – 
AICWA, LLB, PGD(Cyber Law), CFE 
Certificate course of “Cyber Crime Investigator
Certificate course of “Cyber Crime Investigation & Cyber Forensic

WORK EXPERIENCE :-
July, 2008 to till date :-  Joined BAR COUNCIL OF INDIA as on 15/07/2008 and practicing as an Advocate in Delhi Courts.
May, 1995 to July 2008 :-

I served in the “Economic Offence Wing”, Crime Branch, Delhi Police as an Investigative Officer.

Academic Lectures & Paper Presentations :

Contributing articles on “Forensics & Cyber Fraud” in NIRC News “of ICWAI.
Contributing articles on “Cyber crime & Cyber Law” in “Cyber Times” newspaper.
Delivered lectures on “Fraud in Stock Markets & Corporate sector” at Police Training College, Jaroda kalan, New Delhi
Delivered lectures on “Establishing a chaing of evidence in Cyber Cases” to the officer of Indian Air Force
Delivered Lecture on “Cyber Law & Cyber Crime” in various Engg./Mgt Colleges.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/cyber-law-articles/dhc-struck-down-time-limit-of-six-month-for-invoking-arbitration-in-stock-exchange-disputes-1297000.html" title="DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES">DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES</a>

Neeraj Aarora: AICWA, LLB, PGD (Cyber & DLTA), CFE (USA)

Arbitration is an alternative dispute resolution mechanism provided by a stock exchange to resolve disputes between the trading members and between trading members & constituents (i.e. clients of trading members), in respect of trades done on the Exchange. This process of resolving a dispute is faster than other means of redressal by civil courts. Arbitration comes under the Arbitration and Conciliation Act 1996. The Act allows two options— conciliation and arbitration. Conciliation is similar to an out-of-court settlement where the parties find acceptable resolution and a stamp of legal finality is marked on the case. Arbitration, on the other hand, is a quasi-judicial mechanism where arbitrators decide on a case (like a judge or a bench) and pass an order which is called an arbitration award. However, the byelaws of the exchange provide the procedure for Arbitration. The investor can procure a form for filing arbitration from the concerned stock exchange. All the cases have to be filed within 6 months of the dispute arising.

In the recent judgment of Delhi High court in SMT BIBA SETHI Vs DYNA SECURITIES LTD, OMP NO. 63/2007 decided on 17th March, 2009 Hon’ble Judge, RAJIV SAHAI ENDLAW held that “the part of Byelaw 3 of Chapter XI of NSE Byelaws, to the extend prescribing limitation of six months for reference of disputes/claims to arbitration is void. The time therefore will be governed by the limitation act.”

The Judgment shall provide a relief to the thousand of investors who has to file the suits in the civil courts on expiry of six Months time for filing the claim with the arbitration. Normally, the broker uses delay/dilatory tactics with the client resulting into loss of opportunity of clients to invoke the arbitration clause. The clients are left with no option but to file suit in the civil court where the adjudication process takes a couple of year. Now, the clients can invoke the arbitration clause within three years i.e. the time prescribed by the law of limitations. The decision of the High Court would also result into substantial reduction in the number of cases filed in the civil court in last two years as these cases can now be adjudicated/referred to the summery proceedings of the arbitral mechanism of the stock exchanges.

Any Quarry Please Send the mail neeraj@hazenlegal.com

Neeraj Aarora, Advocate AICWA, LLB, PGD(Cyber Law), CFE Mb - +91-987143505. 011-27318700 Email – nirajdp@gmail.com Professional Summary I am a Law graduate, Cost Accountant & Certified Fraud Examiner, presently practicing as an advocate in Delhi Court,providing consultancy on the matter relating to the detection, prevention of cyber crime, collection of digital evidence remedial measures and filing & followup of cases in the court and other legal forum. Empanelment/Consultant:- Consultant to 1) World Bank 2) Indusind Bank, Delhi Arbitrator to “Multi Commodity Exchange of India”, New Delhi Enrolled as an Advocate with “Bar Council of Delhi” , “Delhi High Court Bar Association” & Supreme Court Bar Association Qualifications – AICWA, LLB, PGD(Cyber Law), CFE Certificate course of “Cyber Crime Investigator Certificate course of “Cyber Crime Investigation & Cyber Forensic WORK EXPERIENCE :- July, 2008 to till date :- Joined BAR COUNCIL OF INDIA as on 15/07/2008 and practicing as an Advocate in Delhi Courts. May, 1995 to July 2008 :- I served in the “Economic Offence Wing”, Crime Branch, Delhi Police as an Investigative Officer. Academic Lectures & Paper Presentations : Contributing articles on “Forensics & Cyber Fraud” in NIRC News “of ICWAI. Contributing articles on “Cyber crime & Cyber Law” in “Cyber Times” newspaper. Delivered lectures on “Fraud in Stock Markets & Corporate sector” at Police Training College, Jaroda kalan, New Delhi Delivered lectures on “Establishing a chaing of evidence in Cyber Cases” to the officer of Indian Air Force Delivered Lecture on “Cyber Law & Cyber Crime” in various Engg./Mgt Colleges.

Rate this Article:

0 / 5 stars - 0 vote(s)

Re-Publish

Article Source: http://www.articlesbase.com/cyber-law-articles/dhc-struck-down-time-limit-of-six-month-for-invoking-arbitration-in-stock-exchange-disputes-1297000.html

Article Tags: Yes

Related Articles
Related Q&A

Latest Cyber Law Articles
More from Neeraj Aarora

Getting Clear With Your Bail Bondsman

By: Bail Bonds | 22/12/2009
A bail bond is fundamentally a legal paper that guarantees the court that the defendant will show in court on the day of his hearing to face his indictment. Needless to say, this document is a prized one for the kind of a person who has been arrested.This is because no one wants to face the strain of having a cherished one confined in jail when there is scope of release through bail bonds. The need arises when a person is arrested by law enforcement officials and taken to prison ...

Criminal Records Can Affect Your Chances Of Getting A Job

By: Dmytro Fedosyeyev | 20/12/2009
Criminal records include any details about any conviction that you have had. Most employers are now concerned about employing people who have been convicted. A majority of them search criminal records before they can even call you for an interview. Organizations make this decision because they can be accused of being negligent if they hire a person who poses a risk to the other employees

Painless Understanding of Getting Your Bail Bondsman

By: Bail Bonds | 19/12/2009
A bail bond is basically a official paper that guarantees the court that the defendant will appear in court on the day of his hearing to face his accusation. A bail document is a key source for persons who have been arrested or detained. This is because no one wants to face the upset of having a dear one confined in jail when there is scope of release through bail bonds. When someone has been taken to jail or arrested by the law , the need for this type of service is import...

How to Get hold of Bail Bond Services

By: Bail Bonds | 19/12/2009
A bail bond is basically a official deed that guarantees the court that the defendant will show in court on the day of his judgment to face his allegation. A bail document is a crucial source for persons who have been arrested or detained. This is because no one wants to face the strain of having a dear one confined in jail when there is scope of release through bail bonds. The need arises when a person is arrested by law enforcement officials and taken to prison . Neverthele...

Obtaining the Accurate Bail Bondsman

By: bail bondsman | 12/12/2009
Although the defendent is in jail or perhaps the court date may possibly be in pending, the bail bondsmans is there to post bail money for the person detained. Bail money is used as indemnity that the defendant will show up to court to hear the hearing and accept his or her sentence. At times it takes time to get out of jail , and for some a bail may be their only recourse. Wanna get out of prison ? for knowing more about bail bondsman...

A Federal defense and sex crime attorney’s advice on staying out of prison when computer dating

By: Gregg Stark | 07/12/2009
The internet and cell phone technology have become a wonderful and widespread resource for singles (and others) looking to find a loving relationship. However, as federal attorneys and sex crime lawyers know, this form of dating is not without potential legal peril. If you or a loved one is engaged in internet dating or wireless communication, here are some tips that one must be made aware of:

The Things You Have To Know In Case You Get In An Auto Accident

By: Dmytro Fedosyeyev | 03/12/2009
Cases as a result of physical injury that happen after auto accidents are many and they happen all the time such that one may sue or be sued as the contributor of the other party's loss.

Finding A Skillful Medical Malpractice Attorney

By: Dmytro Fedosyeyev | 03/12/2009
In many cases, the negligence of others hurts people, and if they do not know what steps to take to get justice, they may ignore it

Delhi High Court seeks opinion from Attorney General over sovereign immunity

By: Neeraj Aarora | 26/11/2009 | Law
The applicability of "Principle of Sovereign Immunity" to the Motor Vehicle accident cases.

Ghaziabad Changing Room Incident Shines Spotlight On Video Voyeurism

By: Neeraj Aarora | 03/10/2009 | Cyber Law
The arrest of famous store room owner at Ghaziabad for allegedly planting secret camera to make clippings of the female customer while using the trial room has shown adverse impact upon our concept of privacy. The peeping cameras are becoming technologically advanced, tiny and easily available at cheaper prices. They can be planted secretly with ease and its pervasive application has contributed to the growing fascination for younger generation obsession with voyeurism.

Cyber Criminal Arrested Through Digital Footprint- An Excellent Job By Special Cell, Delhi Police

By: Neeraj Aarora | 03/10/2009 | Cyber Law
There is lack of security culture amongst the user of computer, computer system, and computer networks. The same is evident from the recent report of Anoushka Shankar (daughter of the legendary music maestro Pandit Ravi Shankar) email hacked into by an offender who took control of some very private photographs stored in the inbox of the email.

DHC STRUCK DOWN TIME LIMIT OF SIX MONTH FOR INVOKING ARBITRATION IN STOCK EXCHANGE DISPUTES

By: Neeraj Aarora | 03/10/2009 | Cyber Law
Arbitration is an alternative dispute resolution mechanism provided by a stock exchange to resolve disputes between the trading members and between trading members & constituents (i.e. clients of trading members), in respect of trades done on the Exchange. This process of resolving a dispute is faster than other means of redressal by civil courts. Arbitration comes under the Arbitration and Conciliation Act 1996.