Common Order:

This Original petition No.756 of 2000, has been filed under Section 34 of the Arbitration and Conciliation Act, 1996, hereinafter called the Act, to set aside the award dated 19. 1998 of the 2nd respondent in A.M. No. 29 of 1997.

2. Application No. 2402 of 2005 has been filed by the applicant/1st respondent to dismiss the above O.P.No.756 of 2000 with exemplary costs.

3. The brief facts as culled out from the above petitions are as under:

.4. The petitioner is a Trading member of the National Stock Exchange (NSE) and carries on business in the sales and purchase of shares and securities on its own behalf and on behalf of clients and constituents. The petitioner is also a trading member of the Madras Stock Exchange Ltd. The 1st respondent became a client of the petitioner and placed orders for sales and purchases of shares and securities on the NSE of India Ltd., through the petitioner. The 1st respondent was represented in all its activities by UR. Lakshmi Narasemhan, its Director. Apart from 1st respondent, its associate company Uttathur Shares and Securities Pvt. Ltd., also entered into transactions on the NSE through the petitioner from 26. 1996 onward