Supreme Court orders firm to pay Rs. 21,70,143 plus 12% interest over unauthorized securities sale in landmark arbitration case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Restoration of securities held by the appellant which were allegedly illegally sold by the respondent-firm - The Supreme Court adjudicated a complex arbitration dispute concerning unauthorized sale of securities. The case traversed multiple judicial forums, including arbitral tribunals, district courts, and high courts. The pivotal issues involved unauthorized sale, interest on awarded sums, and compensation for the petitioner. The Supreme Court, exercising its extraordinary jurisdiction, directed the respondent to pay the awarded amount of ₹21,70,143 with 12% simple interest per annum from 27th September 2013. This decision aimed to conclude the protracted litigation fairly, ensuring justice for the elderly petitioner.....