https://www.taxtmi.com/caselaws?id=194449 An arbitral award may be set aside under section 34 where it ignores a mandatory market regulation governing margin demand and close-out of positions. The Court held that Regulation 3.10 of the NSE F&O Segment imposed a compulsory duty to demand margin and permitted close-out only within the regulatory framework, but the tribunal relied mainly on the broker-client agreement and treated liquidation as discretionary. As no documentary proof supported the alleged additional margin demand or exchange instructions, the findings upholding the close-out and rejecting the counterclaim were perverse and unsupported by evidence. The awards were therefore set aside. en-us Thu, 14 Jul 2016 00:00:00 +0530 Fri, 08 Sep 2017 11:00:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194449 An arbitral award may be set aside under section 34 where it ignores a mandatory market regulation governing margin demand and close-out of positions. The Court held that Regulation 3.10 of the NSE F&O Segment imposed a compulsory duty to demand margin and permitted close-out only within the regulatory framework, but the tribunal relied mainly on the broker-client agreement and treated liquidation as discretionary. As no documentary proof supported the alleged additional margin demand or exchange instructions, the findings upholding the close-out and rejecting the counterclaim were perverse and unsupported by evidence. The awards were therefore set aside. Case-Laws Indian Laws Thu, 14 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194449