Arbitration
Arbitration
Contact numbers:
Direct Telephone Line nos : 022-66406521
Fax No : 022-66406899
Email : askus@ncdex.com / ig@ncdex.com
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), | 11 |
| 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. | 5 |
| 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. | 7 |
| 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. | 13 |
| 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 | 5 |
| 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. | 10 |
| 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) | 2 |
| 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 | 13 |
| 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. | 7 |
| 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. | 11 |
| 12. | Mr. Anil Shah | Solicitor,UK; Advocate,Mumbai, 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 |
9 |
| 13. | Dr. K.V.S. Sarma | Ph.D (Consumer Protection Law), Master of Law | Consumer 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. | 4 |
| 14. | 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 |
| 15. | 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 | 3 |
| 16. | 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 | 5 | |
| 17. | 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. | 2 |
| 18. | 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 | 5 |
| 19. | 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 |
| 20. | Shri. Surendra Narhar Ranade | L.L.B. | Served in state Judiciary for more than 36 years and Retired in the cadre of District Judge | 4 |
| 21. | Shri. Kamalchand | L.L.B. | Retired District & Sessions Judge , former Presiding officer, Debts Recovery Tribunal, Mumbai | 6 |
| 22. | Mr. Ish Jain | Ph.D. candidate in Arbitration Law, LLM in Air and Space Law, LLM in International Commercial and Arbitration Law, LLM in Information Technology Law, B.L.S., LL.B. Fellow of Chartered Institute of Arbitrators, UK, Hong Kong, Malaysia and New Zealand. Fellow of Indian Dispute Resolution Council and Indian Council of Arbitration | Awarded Legal Falcon 2022, Dubai and ALB's India Rising Stars by Thomas Reuters and Asia Legal Business, 2022.
Empanelled as Arbitrator with Bombay High Court and Delhi High Court.
Empanelled as Arbitrator in 20+ Arbitration institutes in UK, Singapore, UAE, Saudi Arabia, Malaysia, Mauritius, Russia and Maldives.
Currently senior partner of Regius Legal LLP. | 0 |
| 23. | Mr. Jayant Bhatt | B.SC, LL.B | Practicing Advocate in the High Court of Gujarat since 1982 having around 40 years of experience of conducting various legal issues concerning civil, commercial, land, corporate, constitutional laws.
Appears and represents many big Companies like Brittania, Reliance, Birla AT&T, Digjam and also Corporations like Ahmedabad Municipal Corporation, Jamnagar Municipal Corporation, Rajkot Municipal Corporation and is engaged by the Government of Gujarat as Senior Advocate to conduct Arbitration matters before the Gujarat Public Works Arbitration Tribunal.
He is also appointed as Arbitrator by Gujarat Narmada Fertilizer Valley Ltd to resolve and adjudicate disputes referred to Arbitration. | 0 |
| 24. | Mr. Debashish Mallick | MA (Economics) and CAIIB. | MD&CEO, IDBI Asset Management Company between April 2011 to April 2014. Retired as Deputy Managing Director(DMD), EXIM Bank in July 2019. Was DMD in EXIM Bank between July 2014 to July 2019. | 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 | 7 |
| 2. | Shri R K Ahooja | MA Economics | IAS (Retd) and Empanelled as an Arbitrator with MCX and NCDEX | 6 |
| 3. | 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. | 7 |
| 4. | 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 |
| 5. | 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 |
| 6. | 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 | 2 |
| 7. | 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 |
| 8. | 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 |
| 9. | 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 | 7 |
| 10. | 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 |
| 11. | 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 |
| 12. | 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. | 6 |
| 13. | 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. | 6 |
| 14. | Mr. Rajkumar Suthar | BSc,MA , PGDPM, LL.B, RSCIT , PGDLPO | Practicing Advocate at the Rajasthan High Court at Jaipur. Total standing as an Arbitrator is 22 years. Panel Arbitrator of ICA, MCX,SCOPE,HAC,BIMACC,IDAC, | 0 |
| 15. | Mr. Surinder Kumar Kalra | B.Com (Hons), Chartered Accountant, Certificate programme on Contractual Dispute Resolution, Completed Commodity Certification Course | Worked as Chartered Accountant by profession with 41 years of experience. Expertise in Smart Contracts, Forensic Accounting and Information Technology. | 0 |
| 16. | Dr. Subhash C Gupta | MA LLM MBA PhD(Law) PhD(Management) | Fellow of the Chartered Institute of Arbitrators, London, Fellow of Indian Council of Arbitration; Member of International Council of Jurists, London; accredited Panel Arbitrator with Delhi High Court; Punjab & Haryana High; Kerala High Court, Madhya Pradesh High Court, Madras High Court, London Court of International Arbitration; Asian International Arbitration Centre, Malaysia; Maldives International Arbitration Centre, Maldives; Abu Dhabi Global Markets Board, ABMG Arbitration Centre, Abu Dhabi; Sharm El Sheikh International Arbitration Centre, Cairo, Egypt; Chicago International Dispute Resolution Association, Chicago, USA. | 0 |
| 17. | Mr. Bikram Singh Yadava | M.A. Economics, MBA(Finance), LL.B. | Over 25 years of professional experience which includes working for the leading stock exchange of India and thereafter as Head of Legal / Compliance for a national level stock and commodity market intermediary.
Law practice in the matters of Stock and Commodity Market Regulatory Actions and Arbitration. Advisory/ Consultancy with respect to compliance with the Act, Rules and Regulations of Securities and Exchange Board of India (SEBI) and Stock/ Commodity Exchanges. | 0 |
| 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 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 |
| 5. | 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 |
| 6. | 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 |
| 7. | 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 |
| 8. | 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 |
| 9. | 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 |
| 10. | Mr. Tarun Chatterjee | B.Sc., L.L.B. | Former Judge, Supreme Court of India. Former Chief Justice at the Allahabad High Court. | 0 |
| 11. | 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 |
| 12. | 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 |
| 13. | Mr. Shailesh Kumar Kabra | B.Com, FCS, PGCIM, E.Com Expert | Specialised in the area of Income Tax, Corporate Law, SEBI Act, Finance & Legal documentation etc. A *fellow* member of ICSI practising as a whole time company secretary since 2009. *Served as lecturer on export procedures & documentation in* CAPEXIL Education Services (Sponsored by Ministry of Commerce & Industries, Govt. of India). More than 15 years of experience in international trade. | 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 | 1 |
| 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 | 1 |
| 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. | 3 |
| 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 |
| 5. | 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 |
| 6. | 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 |
| 7. | 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 |
| 8. | 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 |
| 9. | 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 |
| 10. | 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 |
| 11. | 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 |
| 12. | 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 |
Arbitration is a quasi-judicial process of settlement of disputes between trading members, investors, clearing members, authorized person etc. Arbitration aims at quicker resolution of the disputes. When either of the parties are not satisfied with the complaint resolution process or the complaint is not resolved amicably between parties, the parties may choose the route of arbitration.
1. Arbitration framework at the Exchange is governed by Rules, Byelaws, Regulations & Circulars issued by the Exchange and SEBI, from time to time.
2. Claim under Arbitration can be filed within 3 years from the date of dispute (Limitation Act, 1963).
3. Arbitration application can be filed by filling the forms the arbitration forms available under the NCDEX Regulation 21 uploaded on the Exchange website.
Link: https://ncdex.com/about/regulation.
4. Appointment of Arbitrators is done through automated system. For claims upto Rs.25 lakhs, sole arbitrator is appointed and a panel of three arbitrators is appointed if value of claim is more than Rs.25 lakhs.
5. The arbitrator conducts hearings with the parties and passes his judgment in the form of an award.
6. For cases having claim amount of Rs.75,000/- or less, hearing is not compulsory but arbitrator may call for hearing, if required. In such a case the arbitrator/s shall proceed to decide the matter on the basis of documents submitted by both the parties provided however the arbitrator for reasons to be recorded in writing may hear both the parties to the dispute.
7. In cases where award / order amount is more than Rs.50 lakhs (Rupees Fifty Lakhs), the next level of proceedings (arbitration or appellate arbitration) may take place at the nearest metro city, if desired by any of the party involved. The additional cost (stamp duty, service tax, etc.) if any, to be borne by the party making the choice.
2. Claim under Arbitration can be filed within 3 years from the date of dispute (Limitation Act, 1963).
3. Arbitration application can be filed by filling the forms the arbitration forms available under the NCDEX Regulation 21 uploaded on the Exchange website.
Link: https://ncdex.com/about/regulation.
4. Appointment of Arbitrators is done through automated system. For claims upto Rs.25 lakhs, sole arbitrator is appointed and a panel of three arbitrators is appointed if value of claim is more than Rs.25 lakhs.
5. The arbitrator conducts hearings with the parties and passes his judgment in the form of an award.
6. For cases having claim amount of Rs.75,000/- or less, hearing is not compulsory but arbitrator may call for hearing, if required. In such a case the arbitrator/s shall proceed to decide the matter on the basis of documents submitted by both the parties provided however the arbitrator for reasons to be recorded in writing may hear both the parties to the dispute.
7. In cases where award / order amount is more than Rs.50 lakhs (Rupees Fifty Lakhs), the next level of proceedings (arbitration or appellate arbitration) may take place at the nearest metro city, if desired by any of the party involved. The additional cost (stamp duty, service tax, etc.) if any, to be borne by the party making the choice.
The arbitrator fees have been upwardly revised to Rs.18000/- per case per arbitrator. Consequent to this upward revision the additional expenses attributable to a client over and above the fee structure specified under ‘Arbitration Cost to be collected from parties’, shall be borne by the client (wherever applicable) and Exchange equally. The total expense attributable to the trading member has to be borne by the concerned trading member.
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.
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.
In order to have faster implementation of award and to discourage delayed filing of arbitrations by members, the fee structure (exclusive of statutory dues - stamp duty, service tax, etc.) for filing arbitration reference shall be as follows: -
| 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.) |
|---|---|---|---|
| <= 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 - 25,00,000 |
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 |
* The fee structure comprises of Additional fee in case of claims filed by members after six months from the date of dispute.
* The cost of arbitration as mentioned above, collected by the Exchange from parties, shall be utilized to pay Arbitrator(s) Fees. In case the arbitrators’ fees are 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.
* In addition to the above, the following arbitration cost will be collected from the parties:
- Typing fee: Rs.500/-
- A fixed amount of Rs. 1500/- be taken as advance from the Claimant towards applicable Stamp Duty on the anticipated Arbitral Award. Stamp Duty over and above the fixed amount mentioned above, if made payable as per the direction contained and recorded in the Arbitration Award shall be payable by the concerned party. It shall not be the responsibility of the exchange to ensure complete payment of stamp duty by the Claimant/Applicant.
* A client, who has a claim / counter claim up to Rs.10 lakhs (Rupees Ten Lakh) and files arbitration reference, shall be exempted to the extent of filing deposit, however client shall contribute to the additional charges (as applicable). Further, in such case, if award is NIL/Partial award, arbitrator’s fee will be recovered from the member’s deposit.
* 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.
* The deposit/fees collected by the Exchange will 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.
* No additional fees as prescribed under the head “If the claim is filed beyond timeline prescribed in column 3, (only for members)” shall be applicable for cases which are remanded back from court.
* Arbitration fees/deposit etc. to be paid to the Exchange by online payment i.e. NEFT or submission a cheque/pay order /demand draft in favour of ‘National Commodity and Derivatives Exchange Limited’ payable at Mumbai.
Any party not satisfied with the arbitration award can file an appeal before Appellate Arbitrators of Exchange within one month from date of receipt of award.
In partial modification to SEBI circular No. CIR/MRD/ICC/29/2013 dated September 26, 2013, the fees applicable for appellate arbitration is revised to Rs.54,000/- (exclusive of statutory dues – stamp duty, service tax etc.) and would be payable by the appellant. If the appellant is a client, the additional expense shall be borne by the client and Exchange equally.
For eg. Party filing appeal is a client having claim/counter claim of upto Rs.10 lakhs
Additional cost: Rs.24,000/- (Rs.54,000/- less Rs.30,000/-)
Additional cost to be borne by client: Rs.12,000/-
Additional cost to be borne by Exchange: Rs.12,000/-
Total Appellate fees to be borne by client: Rs.22,000/- (Rs.10,000/- + Rs.12,000/-)
Total Appellate fees to be borne by Exchange / IPF: Rs.32,000/-
For eg. Party filing appeal is a client having claim/counter claim of more than Rs.10 lakhs
Additional cost: Rs.24,000/- (Rs.54,000/- less Rs.30,000/-)
Additional cost to be borne by client: Rs.12,000/-
Additional cost to be borne by Exchange: Rs.12,000/-
Total Appellate fees to be borne by client: Rs.42,000/- (Rs.30,000/- + Rs.12,000/-)
Total Appellate fees to be borne by Exchange: Rs.12,000/-
In partial modification to SEBI circular No. CIR/MRD/ICC/29/2013 dated September 26, 2013, the fees applicable for appellate arbitration is revised to Rs.54,000/- (exclusive of statutory dues – stamp duty, service tax etc.) and would be payable by the appellant. If the appellant is a client, the additional expense shall be borne by the client and Exchange equally.
For eg. Party filing appeal is a client having claim/counter claim of upto Rs.10 lakhs
Additional cost: Rs.24,000/- (Rs.54,000/- less Rs.30,000/-)
Additional cost to be borne by client: Rs.12,000/-
Additional cost to be borne by Exchange: Rs.12,000/-
Total Appellate fees to be borne by client: Rs.22,000/- (Rs.10,000/- + Rs.12,000/-)
Total Appellate fees to be borne by Exchange / IPF: Rs.32,000/-
For eg. Party filing appeal is a client having claim/counter claim of more than Rs.10 lakhs
Additional cost: Rs.24,000/- (Rs.54,000/- less Rs.30,000/-)
Additional cost to be borne by client: Rs.12,000/-
Additional cost to be borne by Exchange: Rs.12,000/-
Total Appellate fees to be borne by client: Rs.42,000/- (Rs.30,000/- + Rs.12,000/-)
Total Appellate fees to be borne by Exchange: Rs.12,000/-