JUDGMENT - F.I. REBELLO, J.:-Petitioner by the present petition impugns the Award passed under the Arbitration and Conciliation Act, 1996 on 17th January, 2001. By the said Award, the Arbitral Tribunal upheld the objections of the respondents herein that the claim was barred by limitation and accordingly rejected the reference. That Award has been impugned on the ground that the transactions were transaction before the bye-laws of Stock Exchange came to be amended and consequently they would not apply to transactions or in respect of a cause of action which had arisen before the bye-laws were amended. The transactions between the parties were of the year 1991-1992. The amendment to the bye-laws was brought into force on 29-8-1998. Earlier, petition had filed an arbitration reference on 6-11-1997 in respect of the same subject matter. It was numbered as Reference No. 278 of 1997 and was withdrawn on 5-8-1998. It is subsequent to this that the fresh reference was made to the Arbitral Tribunal. As noted earlier, the material on record shows that the transactions between the parties were of the year 1991-92. The last entry in the books of accounts was on 22-3-1993.

The case of the peti

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