https://www.taxtmi.com/caselaws?id=109302 A trading member of the NSE declared a defaulter is not, on the stated bye-laws, deprived of the contractual right to invoke arbitration for disputes arising before default. Rule 33 governs lapsing and forfeiture of membership rights, but it does not expressly extinguish the arbitration agreement or transfer that right to the Defaulters' Committee. Chapter XI creates a separate arbitration regime, and Bye-law 1C preserves pre-default disputes. The Defaulters' Committee has limited powers and no express authority to substitute the defaulter or itself refer such disputes to arbitration. The challenge to maintainability therefore fails. en-us Mon, 06 Dec 2004 00:00:00 +0530 Wed, 15 Apr 2020 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109302 A trading member of the NSE declared a defaulter is not, on the stated bye-laws, deprived of the contractual right to invoke arbitration for disputes arising before default. Rule 33 governs lapsing and forfeiture of membership rights, but it does not expressly extinguish the arbitration agreement or transfer that right to the Defaulters' Committee. Chapter XI creates a separate arbitration regime, and Bye-law 1C preserves pre-default disputes. The Defaulters' Committee has limited powers and no express authority to substitute the defaulter or itself refer such disputes to arbitration. The challenge to maintainability therefore fails. Case-Laws Indian Laws Mon, 06 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109302