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with subject : Arbitration

Common Pool of Arbitrators

Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Justice Dr. Pratibha D Upasani (Retd.) LL.B, LL.M, PH.D (Law) MCX Arbitrator & Former Judge of the High Court, Mumbai, Retired Chairperson of Debts Recovery Appellate Tribunal, Mumbai, Ex-Arbitrator of NSE, LL.B, LL.M, PH.D (Law), 1
2. Ms. Padma Rajendran M.A. (Economics) with specialization in Banking & Finance At present on NSE Arbitration panel. Last position held in IDBI was General Manager, HO Mumbai. From 1982 to 1998 with IDBI Bank and 1972 to 1981 with State Bank of India. 0
3. Shri Chandrakant Kamdar B.E. (Mech),
B.COM., CFE (USA), Certified Fraud Examiner, Certified Anti-Money Laundering Specialist, USA (CAMS, USA), FCIArb (UK), Chartered Arbitrator, Fellow of the Chartered Institute of Arbitrator
Arbitrator, Multi Commodity Exchange & Advisor / Consultant Capital Market Intermediaries and Corporate Bodies, Former Financial Controller/Company Secretary Fellow of Chartered Institute of Arbitrators (UK), Member - Indian Council of Arbitration. Empanelled as Arbitrator with MCX and NSE. 1
4. Dr. Dilip Kakubhai Virani B.Sc. (Hons), M.B., M.S., ACIArb (U.K.) Arbitrator & Surgeon, Member of CIArb, U.K.; International Bar Association , U.K. ; Indian Council of Arbitration, Indian Council of Alternate Dispute Resolution & Treasurer CIArb. Empanelled with MCX/NSE/BSE and Various NBFCs. 3
5. Shri P B Nimbalkar B.Com, LL.B., CAIIB Arbitrator, Multi Commodity Exchange & Former Chairman & MD of SIDBI, Member of Indian Council of Arbitration, Ex Arbitrator on the panel of NSE, Qualification : B.Com, LL.B., CAIIB 0
6. Shri Deba Prasad Roy M.Sc., Certified Associate of Indian Institute of Bankers Member of ICA, Member of Advisory Committee of PSU, Bank and Financial Consultant. He was director on 6 Foreign Subsidiaries of SBI, Member of ICA. 3
7. Shri S. Srinivasan M.SC., M.B.A. At Present on NSE Arbitrators Panel for Mumbai. He was Chief General Manager IDBI Bank and Joint Managing Director of Stock Holfing Corporation of India Ltd. (SHCIL) 0
8. Shri Subhash C Gupta B.A., L.L.B., CAIIB Part-1 Former Legal Advisor and Head of Department, Legal, Reserve Bank of India. Empanelled with MCX. 0
9. Dr. Rakesh Kumar Kakkar B.SC, L.L.M., Ph.D(Law):Associate of C.I. Arb of India Retd., Principal Commissioner of Income Tax 3
10. Mr. Paresh Manilal Joshi B.A. & L.L.B Advocate, High Court & EX- Arbitrator NSE, BSE MCX-SX (Capp) A mediator and conciliator on the “panel of mediator’s and conciliator’s maintained by regional director Mumbai ministry of corporate affairs under new companies act. On Panel of Arbitrtaor at AICADR WITH STATUS AS F-AICADR (ID NO :- 00083.) also on the panel of arbitrtaor at ICA with sttaus as FICA & MICA.B.A. 1
11. Mr.Ashokkumar P/ Bakliwal C.A., Post Graduate Certification in Alternative Dispute Resolution (ADR) Chartered Accountancy Former Member of SEBI’s “Mutual Fund Advisory Committee” ( 2008 to 2011.)From February, 2009 to February, 2017, Arbitrator at BSE and NSE. Decided more than 150 Arbitration References and Appeals in BSE/NSE.Practicing as Arbitrator in resolution of inter corporate disputes.On the panel of Peer Reviewers of The Institute of Chartered Accountants of India. 2
12. Mr. Anil Shah Solicitor,UK;
Fellow Member, Institute of Chartered Accountants of India
Fellow  Member, Institute of Company Secretaries of India,
Associate  Member, Institute of Chartered Secretaries and Administrators, UK,
Associate  Member,  Chartered Institute of Arbitrators, UK
Practicing Solicitor and Managing Partner of Juris Matrix Partners LLP, Solicitors and Advocates having more than 39 years of extensive experience in capital markets. Has exposure to the International Court of Arbitration and has both presided as well as represented clients at private Arbitrations in India. On panel of NSE/BSE/MCX/NCDEX/ICEX,PXIL as Arbitrator
13. Mr. Anish Wadia B.Com., LL.B., FCIArb,
Voted as one of the "Top 10 Arbitrators (under 40) in Asia Pacific" for 2019 by the Bali International Arbitration International Arbitration. & Mediation Center (BIAMC). Mr. Wadia is a highly experienced Independent International Arbitrator,Mediator and Lawyer 0
14.Dr. K.V.S. SarmaPh.D (Consumer Protection Law), Master of LawConsumer Law Chair Professor, Ministry of Consumer Affairs. Head, Centre for Consumer and Competition Law, NALSAR University of Law. Member of Academic Council,  NALSAR University of Law.0
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Justice M A Khan (Retd.) M.Com, L.L.B. Retired as Judge of Delhi High Court. Served as Vice Chairman, Central Administrative Tribunal (CAT), Principal bench New Delhi. Member of the Indo-Pak Judicial Committee on Prisoners. Empanelled as an Arbitrator with NSE, BSE, MCX, NCDEX and CDSL 0
2. Smt. Lakshmi Swaminathan L.L.B., L.L.M. Member of NSE and Indian Council of Arbitration panel of Arbitrators. Member of Governing Council of International Centre for Alternative Dispute Resolution. Also a former Vice- Chairman, Central Administrative Tribunal(CAT), She was Legal Adviser for Ministry of Law & Justice. Empanelled as an Arbitrator with MCX and NCDEX 0
3. Shri R K Ahooja MA Economics IAS (Retd) and Empanelled as an Arbitrator with MCX and NCDEX 0
4. Shri K.S. Dhingra B.Sc, LLB Chief (Legal) and Joint (Legal), Central Electricity Regulatory Commission since last 10 years. From 1993 to 1999, Deputy Judge Attorney General and legal adviser to the director general, National Security Guard.From 1983 to 1993, Civilian Staff Officer/ Senior Administrative Officer, Ministry of Defence. 1
5. Shri R N Bansal B.A. (Hons. In Economics); LL.B IAS (Retd) Former Agriculture Marketing Advisor, Minister of Rural Development, Govt. of India Former Secretary to the Govt. of Himachal Pradesh in various Dept., Presently Empanelled as an Arbitrator with MCX and NCDEX 0
6. Shri Harbans Lal MA (Public Admin.), CA IIP Retd., Chief General Manager, State Bank of India. Member of Arbitration panel, Delhi Stock Exchange, MCX and NCDEX 0
7. Shri Devinder Arora B.com., LL.B., I.C.W.A, C.S. Retd. Chief Operating Officer – Delhi Stock Exchange Ltd. / Executive Director, DSE Financial Services Ltd. Empanelled as an Arbitrator with MCX and NCDEX 1
8. Shri T.C.A. Ranganathan M.A. (Eco.), Diploma in Corporate Law, CAIIB (Part I & II), Executive Development Programme from Wharton School of Business, University of Pennslyvania, Executive Development Programme from IIM, Lucknow He is an experienced Chartered Accountant and is also empanelled as an Arbitrator with the National Stock Exchange (NSE). Empanelled as an Arbitrator with NSE, BSE, MCX and NCDEX 1
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Shri Narayanprasad Sengupta M.A. Former Chief Commissioner of Income Tax. Empanelled as Arbitrator with MCX and NCDEX 0
2. Shri Barindra Nath Som M.A. from Calcutta University Former Vice Chairman - Central Administrative Tribunal. Former secretary GOI – Department of Posts, Central Provident Fund Commissioner-Ministry of Labour, He was joint Secretary – Union Public Service Commission. He is acting Arbitrator in NSE, BSE, MCX, NCDEX and Central Warehousing Corporation. 0
3. Shri Arup Ratan Chattopadhyay Graduated in Geography, Post Graduate Diploma in Training & Development Management from University of Manchester, UK Worked with Indian Revenue Services from 1967, Former Chief Commissioner of Income Tax, Kolkata. Empanelled as Arbitrator with NSE, BSE, MCX and NCDEX 0
4. Shri Dilip Kumar Das M.Sc. (Mathematics), M.B.A.(Finance), Diploma in Trainers' Training Served as lecturer in 1968 in Engineering & Degree Colleges in Assam. Worked with Indian Revenue Service in 1970. Former Chief Commissioner of Income Tax. Empanelled as Arbitrator with NSE, BSE, MCX and NCDEX 0
5. Shri Biswajit Choudhuri B. tech (Hons), FICWA, FIIBF He was Chairman and Managing Director of United Bank of India. He was Executive Director of UCO Bank. Empanelled as Arbitrator with NSE, BSE, MCX and NCDEX 0
6. Shri Tushar Suman Thaker BSc. LL.B. (University of Calcutta) Practicing Advocate in Kolkata High Court having 28 years of experience. Expertise in arbitration and allied laws. Empanelled as Arbitrator with MCX and NCDEX 0
7. Shri D. N. Mittra LLB Senior Partner of Victor Moses & Co., a leading firm of Solicitor & Advocates. His field of practice encompasses Corporate Laws, Commercial Laws, Real Estate & Property Laws, Arbitration & Allied Laws. Empanelled as Arbitrator with Kolkata Stock Exchange, MCX and NCDEX 0
8. Mr. S M Gupta B.com, LL.B., Company Secretary He is an Arbitrator on the Kolkata Arbitral Panel of the Bombay Stock Exchange, National Stock Exchange and Metropolitian Stock Exchange of India Limited. 0
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Mr. B Lakshminarayana M.Com, CAIIB, CFA Retired as General Manager from Corporation Bank , Chief Executive Officer, Meliora Asset Reconstruction Company Limited, Arbitrator with NSE and BSE 0
2. Mr. N K Padhi B.A., M.A. Retired from State bank of Hyderabad as General Manager , Was the Chief Executive officer of Vardhaman (Mahila ) Co – op Urban Bank. Arbitrator With NSE and BSE 0
3. Mr. P DINAKARA RAO M.A. (Applied Economics); CAIIB Part1 and Diploma in Hindi Director at SPYN Finacial Services Pvt. Ltd ( 2010- till date), Mentor at Mentoredge (2010 – till date )Director at Alpha Foundation. Retired as Chief General Manager at State Bank of Hyderabad Genera Manager at State bank of Patiala , Arbitrator With NSE and BSE. Independent Director in board of Versante Technologies. 1
4. Shri Vijaynandan Reddy Master of Arts, Master of Law; Additional Standing Counsel / Advocate, Government of India Additional Standing Counsel / Advocate, Government of India. 0

Common Pool of Appellate Arbitrators

Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Justice A S Aguiar (Retd.) B.A., L.L.B. Retired Justice, MCX Arbitrator &Former Judge of the High Court, Mumbai, Advocate, Solicitor, Bombay High Court, Solicitor, Supreme Court of England of Wales.
Arbitrator on the panel of NSE, BSE, NCDEX and MCX
2. Shri Pawan K. Agarwal B.Com, L.L.B., F.C.A., DISA (ICAI) Chartered Accountant and Arbitrator on the panel of NSE, BSE, MCX and NCDEX 0
3. Shri Sunil N. Dalal He was Research Officer - FMC for 2 years, Senior Research Officer Indian Merchants Chamber. He retired from RBI as Principal Eco. Adviser to Governor. Arbitrator on the panel of MCX and NCDEX 0
4. Mr. Vyapak Desai L.L.B, L.L.M (Commercial Laws) Current position-Head, Int’l Litigation and Dispute Resolution Practice, Nishith Desai Associates He has represented clients advising for investment treaty arbitrations and before international arbitration centers such as the London Court of International Arbitration (LCIA), Singapore International Arbitration Centre (SIAC), International Chamber of Commerce (ICC), and International Centre for Dispute Resolution (ICDR- AAA) amongst others. He acts as arbitrator and is also a trained mediator. 0
5. Mr. Dharmendra Dhelariya B.Com, C.A. Company Secretary Chartered Accountancy,Diploma in Information System Audit,(DISA) course conducted by the Instituteof Chartered Accountants of India. Company Secretary,B.Com Empanelled as an Arbitrator with NSE and BSE 0
6. Shri. S.D. Dharmadhikari C.A., L.L.B. Additional District Judge and Additional Sessions Judge in year 1988 to 1993, Rtd. District and Session Judge 0
7. Shri. Surendra Narhar Ranade L.L.B. Served in state Judiciary for more than 36 years and Retired in the cadre of District Judge 0
8. Shri. Kamalchand Paratwar L.L.B. Retired District & Sessions Judge , former Presiding officer, Debts Recovery Tribunal, Mumbai 0
9. Shri. Vijay Pandurang Patil B.Com, L.L.B. Retired Judge of Supreme Court of India and represented Judges of Maharashtra and Gujarat and also appeared for Service conditions of Labour & Industrail Courts' Staff in Maharashtra 0
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Justice V S Aggarwal (Retd.) B.A, L.L.M, Worked as Civil Judge, Addl. District & Sessions Judge. Worked as Judge of Punjab, Haryana & Delhi High Court. Worked as Chairman of Central Administrative Tribunal. Empanelled as an Arbitrator with NSE, BSE, MCX and NCDEX 0
2. Shri Vijai N Mathur B.Com., LL.B., F.C.A., F.C.S. Former Legal Director Gillette India Ltd and Empanelled as an Arbitrator with NSE, BSE, MCX and NCDEX 0
3. Shri Neeraj Aarora CISSP, CISA, FCMA, CFCE, ACIArb, FICA, PGD, MBA, LL.B. Advocate, Supreme Court of India & Delhi High Court and Empanelled as an Arbitrator with NSE, BSE, MCX and NCDEX 0
4. Shri Ravi Kant M.A., M.SC., Master Diploma in Public Administration Worked as Chairman of Central Board of Direct Taxes. Worked as member of Telecom Regulatory Authority of India .Served Income Tax Dept. for 37 years. Member of Indian Council of Arbitration. Empanelled as an Arbitrator with NSE, BSE, MCX and NCDEX 0
5. Justice Ms Usha Mehra (Retd.) B.A., L.L.B. Enrolled as Advocate with Delhi Bar Council, Delhi in December 1962. In the year 1980, was appointed as the District and Session Judge, Delhi. In the year 1984, was selected as the Registrar of High Court of Delhi at New Delhi. After retirement in November 2003, have been dealing with arbitration matters only.Dealing with arbitration matters on behalf of Lamp;T against NHAI.Currently on the panel of Indian Council of Arbitration and have received Arbitration matters. 0
6. Justice Shankar Nath Kapoor M. Com , LLB Former Judge, High Court of Delhi. Specialization in Intellectual Property, Real Estate, Commercial Contracts, Corporate Law, Information Technology, Corporation & related activities. Environment and consumer affairs etc. Joined the judicial service in 1969. Dealt with hundreds of arbitration cases. 0
7. Justice (Dr.) Satish Chandra L.L.M., L.L.D., Diploma in U.N. Studies Former Judge Allahabad High Court. Specialization in Real Estate, State Contracts, Oil, Petroleum & Gas and Taxation. 26 years' experience in the field. 0
8. Justice (Retd.) S.N. Aggarwal D.Pharma, B.Sc., LL.B, LL.M More than 37 year experience in the legal profession including experience of about 21 years as a Judge/adjudicator in various courts.Worked in various positions including as Additional District & Sessions Judge, Delhi; Worked as a Judge of Delhi High Court and Judge of M.P. High Court .On the panel of Arbitrators of Delhi International Arbitration Centre; Indian Council of Arbitration; GAIL; Power Grid Corporation Limited; IFFCO; NTPC; DMRC; NSE/BSE; SCOPE Forum for Arbitration & Conciliation and Airport Authority of India etc. 0
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Justice Arunabha Barua (Retd.) M.A., LL.B.- Entered W.B.C.S. (Judicial) in 1969. Former Judge, High Court, Calcutta. Former Judge, Special Court, TADA and CBI Principal Secretary, Law, Govt. of W.B. Chairperson, Appellate Tribunal Ministry of Finance, GOI Presently empanelled with NSE , BSE, NCDEX and MCX as Arbitrator 0
2. Mr. Parag Keshar Bhattacharjee BA, MA in Economics, CAIIB Former General Manager of SBI Capital Markets and SBI Local Head Office. Presently empanelled as Arbitrator with NSE and NCDEX (East) 0
3. Mr. Narayan Chandra Sil B.A., L.L.B. Former Judge, High Court of Calcutta. Former Registrar of W. B. Human Rights Commission and Principal Secretary , Law, Government of West Bengal. 0
4. Mr. Shyamik Das Gupta Company Secretary A competent professional with around 25 years of experience in Company Law and Secretarial Functions, SEBI and Stock Exchange Compliance. Former Genaral Manager Calcuta Stock Exchange. Arbitrator in BSE,NSE, MSEIL and others 0
5. Mr. Tarun Chatterjee B.Sc., L.L.B. Former Judge, Supreme Court of India. Former Chief Justice at the Allahabad High Court. 0
6. Mr. Samaresh Banerjea M.A., L.L.B. Former Judge, Calcutta High Court. Former Executive Chairman, S.L.S.A. West Bengal and Lokayukta, West Bengal. Senior Advocate. Specialization in Corporate Law, Taxation, Real Estate, State 0
7. Mr. Asok Kumar Ganguly M.A (English, LL.B.) Former Judge, Supreme Court of India. Former Acting Chief Justice of Calcutta High Court. Former Chief Justice of High Court at Orissa. Former Chairperson of West Bengal Human Rights Commission. 0
Sr. No. Name of Arbitrator Qualifications Particulars Number of matters handled
1. Mr. C.S. Murthy B.Com; CAIIB, Diploma in Computer Science and Applications Former Chief General Manager, RBI. Worked as Banking & financial Sector Regulation Specialist on the Mission for Enhancing Rural Intermediation in Lesotho (IAFD). On Arbitration panel of NSE and BSE. 0
2. Mr. Ram Mohan Rao Gedela B.Sc., L.L.B, Former General Manage, State bank of Hyderabad, Served as Director, Probity Capital Services P Ltd, Worked as DirectorSPYN Financial Services P Ltd.On Arbitration panel of NSE and BSE. 0
3. Mr. K.Sanjeeva Reddy BA, CAIIB Worked with State Bank of Hyderabad in various capacities General Manager (Finance) Trident Microfin Pvt. Ltd. On Arbitration panel of NSE and BSE. 0
4. Mr. B Vithal Rao M.Sc.(Ag.), CAIIB, CISA(USA) Former Deputy General Manager, State bank of Hyderabad. On Arbitration panel of NSE and BSE. 0
5. Mr. Mandadi Pardha Saradhi M.Com, MBA, M.A, Post Graduate Diploma in ADR, Ph.D. (pursuing) Former Director of State Audit of Government of Undivided State of Andhra Pradesh. Gold medalist in Post-Graduation Diploma in Alternative Dispute Resolution In 2014 of ICADR.On Arbitration panel of NSE and BSE. 0
6. Mr. Justice (Retd.) Aditya Pratap Bhanj Deo M.A., B.Sc., LL.B., Former Judge, Member of Indian Council of Arbitration Former District Judge, Andhra Pradesh. Former chairperson for Land Reform Appellate Tribunal & Land Acquisition Compensation claims Tribunal, Motor Accident Claim Tribunal, Land Grabbing Tribunal, District consumer forum. On Arbitration panel of NSE and BSE. 0
7. Mr. K. Rama Murthy B.A., LL.B., Post Graduate Diploma in ADR He is on Arbitration panel of NSE and BSE. Working as panel of Arbitrator for HDFC Bank,Indian council of Arbitration. Worked as Spl. Public Prosecutor for Central Bureau of Investigation & for National Investigation Agency.Worked as Special Public Prosecutor for Register of Companies & for Enforcement Directorate Govt.of India. Worked as Spl. Public prosecutor for Govt. of India, for about 12 and half year 0
8. Dr. Justice (Retd.) G. Yethirajulu B.Sc; B.L., M.A. (Public Administration), LL.M (Constitutional Law), Ph.D (Constitutional Law) Retired Addl. District Judge, Cuddapah, Addl. District Judge East Godavari at Rajahmundry, Chairman at Industrial Tribunal, Warangal, Prl. District Judge, Warangal, Spl. Judge for CBI Cases, Metropolitan Sessions Judge, Director, A.P. Judicial Academy, Chief Judge, City Civil Court at Hyderabad. Registrar (Administration) and Registrar General, High Court of Andhra Pradesh at Hyderabad. Elevated to the Bench of Andhra Pradesh High Court as an Additional Judge on 13.12.2001. 0
9. Mr. Justice (Retd.) Chintapanti Venkata Ramulu B.A., L.L.B Former Judge, High Court of Andhra Pradesh. Specialization in Real Estate, Commercial Contracts, Steel, Mining & Quarrying and Corporate Law, etc. 0

Arbitration mechanism is advisable for grievances/complaints/disputes between member-member or member-client of a member which do not reach amicable resolution at Administrative level/ Customer Service Department level or Mediation proceedings.

The client of a member/ member who wish to avail this facility extended by the Exchange are requested to peruse Regulation 21 of the Exchange Regulations which gives complete information about arbitration procedure of the Exchange. For regulations please visit our website www.ncdex.com (under the heading ABOUT US - Regulations)

As regards, information not readily available in the Regulations i.e. a list of arbitrators and fee schedule, updated information will be provided in this link for reference of the User.

For each arbitration case referred to the arbitrator, fees payable are as under:

Claim Amount or Counter Claim (whichever is high) Non-refundable administration charges Arbitrator’s fee Conveyance To & Fro Additional special fees per hearing (Discretion of the Exchange)
(Rs.) (Rs.) (Rs.) (Rs.) (Rs.)
<= 10,00,000/- 1,000 /- 18,000/- 1,000/- -
10,00,000/- to
1,000 /- 18,000/- 1,000/- -
25,00,000/- to
1,500/- 18,000/- 1,000/- -
35,00,000/- to
2,000/- 18,000/- 1,000/- -
> 50,00,000/- 3,000/- 18,000/- .1,000/- -

In addition to Arbitration fees, each arbitrator shall be paid the following :

  1. Typing charges = Rs.500/- except in case where the Exchange extends award typing assistance. In case of a panel of arbitrators, the arbitrator who types award shall be paid the typing charges.
  2. Stamp Duty = The stamp duty shall be applicable as per the respective state Stamp Act.

Taxes, if any, may be applicable (from time to time) and may be levied to the parties as per the prevalent law for the time being in force.

Fees as per following structure (exclusive of statutory duty, taxes etc.) will be collected from parties :

Amount of Claim / Counter Claim, whichever is higher (Rs.) If claim is filed within six months from the date of dispute (Rs.) If claim is filed after six months from the date of dispute or after one month from the date of IGRP order, whichever is later (Rs.) If the claim is filed beyond the timeline prescribed in column 3 (only for member) (Rs.)
1. 2. 3. 4.
<= 10,00,000 1.3% subject to a minimum of Rs.10,000 3.9% subject to a minimum of Rs.30,000 Additional fee of Rs.3,000/- per month over and above fee prescribed in column 3
>10,00,000 -
Rs.13,000 plus 0.3% amount above Rs.10 lakh Rs. 39,000 plus 0.9% amount above Rs. 10 lakh Additional fee of Rs.6,000/- per month over and above fee prescribed in column 3
>25,00,000 Rs.17,500 plus 0.2 % amount above Rs. 25 lakh subject to maximum of Rs.30,000 Rs.52,500 plus 0.6 % amount above Rs.25 lakh subject to maximum of Rs.90,000 Additional fee of Rs.12,000/- per month over and above
  1. Presently individual arbitrator’s fees is Rs.18,000/- (Rupees Eighteen thousand only) per case. The additional expenses attributable to a client over and above the fee structure as specified in above table, shall be borne by the client (wherever applicable) and Exchange equally. The total expense attributable to the member has to be borne by the concerned member.
  2. The Arbitration Fees and/or deposits (as applicable) collected by the Exchange from parties shall be utilized to pay Arbitrator(s) Fees. In case the arbitrators fees is greater than the Arbitration Fees/deposits collected from the parties, the additional expense in case of client shall be borne by the Exchange and client equally and in case of member shall be borne by the concerned member.
  3. In addition to the above, the Exchange shall collect the following cost from the parties:
    1. Non-refundable administrative charges = Rs.1,000/-
    2. Arbitrators Conveyance = Rs.1000/- ( per hearing )
    3. Typing fee = Rs.500/-
    4. Stamp duty: (as per prevalent state Stamp Act).
  4. Arbitration cost shall include Arbitrator(s) Fees, additional cost, charges, expenses etc.
  5. A client, who has a claim / counter claim up to Rs.10 lakh (Rupees Ten Lakh) and files arbitration reference, shall be exempted to the extent of arbitrator’s fees, however client shall contribute to the additional expenses, charges etc. (as applicable).
  6. In all cases, on issuance of the arbitral award the Exchange shall refund the deposit/Arbitrator(s) Fee to the party in whose favour the award has been passed.
  7. The deposit/fees collected by the Exchange shall be utilized to meet the fee payable to the arbitrator(s). Excess of money, if any, remaining after payment of Fees and expenses of the arbitrator shall be deposited in the IPF of the Exchange.
  8. Arbitration fees/deposit etc. to be paid to the Exchange by submitting a cheque/pay order /demand draft in favour of ‘National Commodity and Derivatives Exchange Limited’ payable at Mumbai.