https://www.taxtmi.com/caselaws?id=458880 Statutory Stock Exchange arbitration under the applicable bye-laws was confined to disputes arising between persons and transactions covered by that framework, so a non-party could not be drawn in merely because claims were joined or participation occurred. An alleged private oral assurance to answer another constituent's trading dues remained outside the arbitration clause and could not support joint and several liability in the statutory forum. The exchange and SEBI framework also required express authority for credit adjustments between client accounts, so transferring one constituent's credit to another's debit without written authorization was impermissible. The award and related order were therefore unsustainable to the extent they fastened liability on the non-party. en-us Thu, 29 Apr 2021 00:00:00 +0530 Wed, 20 Nov 2024 19:12:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458880 Statutory Stock Exchange arbitration under the applicable bye-laws was confined to disputes arising between persons and transactions covered by that framework, so a non-party could not be drawn in merely because claims were joined or participation occurred. An alleged private oral assurance to answer another constituent's trading dues remained outside the arbitration clause and could not support joint and several liability in the statutory forum. The exchange and SEBI framework also required express authority for credit adjustments between client accounts, so transferring one constituent's credit to another's debit without written authorization was impermissible. The award and related order were therefore unsustainable to the extent they fastened liability on the non-party. Case-Laws Indian Laws Thu, 29 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458880