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    <title>ARBITRATION MECHANISM IN NATIONAL STOCK EXCHANGE</title>
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    <description>Arbitration in the National Stock Exchange is governed by the Arbitration and Conciliation Act, 1996 together with NSE and SEBI rules; regional centers maintain arbitrator panels, with computerised appointment of single or three member panels based on claim value. Parties must file within a three year limitation using prescribed forms; respondents may reply and counterclaim. A fee and state stamp duty apply, awards are to be passed within four months (extendable), costs normally follow the losing party, correction under section 33 and appeals to Appellate Arbitrators or judicial challenge under section 34 are available.</description>
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