1. The Petitioner Alankit Assignments Ltd. challenges in this petition under Section 34 of the Arbitration and Conciliation Act, 1996 (‘Act’) an Award dated 10th December 2009 passed by the learned Arbitrator in the dispute between the Petitioner and Respondent No. 1, Cdr. S.P. Puri, whereby the Petitioner has been directed to return to Respondent No. 1 all the shares which were transferred on 28th June 2004 from his account with all incidental benefits such as dividend, bonus shares, rights shares and splitting up of the shares etc.

Narration of facts

2. Respondent No. 1 entered into an agreement on 2nd January 2004 with the Petitioner, which is a trading member of the National Stock Exchange (`NSE’), for trading in securities under Code No. NV 327. Respondent No.1 also had a DEMAT account (No.10651928) with the Petitioner, which is also a Depository Participant under No. DP-IN 300118 with the National Securities Depository Ltd. (`NSDL’). Respondent No.1 also had a speed-e facility which enabled him to issue delivery instructions to the Petitioner, download his DEMAT account details and access the transaction details and statements.

3. According to the Petitioner, Respond