1. The first respondent before the learned Arbitrator has filed this Original Petition, challenging the award dated 06.03.2008.

.2. The first respondent herein was an account holder in HDFC Bank Ltd., Erode Branch and a Trading Member of the National Stock Exchange of India Ltd. The first respondent herein went in for a Member-Client agreement with the petitioner on 18th February 2006. The first respondent opened a demat account with the HDFC Bank. An irrevocable power of attorney was executed in favour of the HDFC Bank authorising the HDFC Bank to transfer funds from his account to the Demat account of the first respondent on the instructions received from the petitioner. In terms of the agreement thus entered into, the first respondent had been having regular trading in stock through the petitioner. It is not denied by the parties herein that the terms of the contract are such that the petitioner has to send regularly the contract notes to the customer like the first respondent as regards the transactions that are carried on by the petitioner for the first respondent, apart from the statement of accounts sent every quarter. At the instance of the first respondent, th