URMIL MODI Vs. ANGEL COMMODITIES BROKING PVT LTD
LAWS(DLH)-2018-3-109
HIGH COURT OF DELHI
Decided on March 20,2018

Urmil Modi Appellant
VERSUS
Angel Commodities Broking Pvt Ltd Respondents


Referred Judgements :-

M/S NATIONAL HIGHWAYS AUTHORITY OF INDIA V. M/S ORIENTAL STRUCTURAL ENGINEERS PVT.LTD . [REFERRED TO]
ASSOCIATE BUILDERS VS. DELHI DEVELOPMENT AUTHORITY [REFERRED TO]


JUDGEMENT

NAVIN CHAWLA,J. - (1.)This petition under Section 34 of the Arbitration and Conciliation Act , 1996 (hereinafter referred to as the 'Act') has been filed by the petitioner challenging the Arbitral Award dated May, 2013 passed by the Arbitral Tribunal in Arbitration Case no. MCX/Legal/913A/12.
(2.)The petitioner claims that she had been dealing with M/s Angel Broking Private Limited, an associate company of the respondent since the year 2007. She submits that the said dealings were confined to the sale and purchase of shares against cash payments alone.
(3.)The petitioner entered into a relation with the respondent herein by executing Client Registration Form, Member Client Agreement, KYC and Risk Disclosure Statement on 23.08.2010 with regard to trading in Commodities. In the said agreement, the petitioner had expressly prohibited Contract Notes to be sent by e-mail in an electronic form and for receiving SMS alerts for the said agreement. The agreement further prohibited the maintenance of account on a running account basis as also adjustment inter se between the group companies of the respondent, including and with respect to the Angel Broking Private Limited, for the trades carried out in any other Segments / Exchanges.


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