1. Thus Original Petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for brevity, “the Act”) challenging the award of the Second Respondent (Sole Arbitrator) dated 5.9.2008.

2.1. The First Respondent in the Original Petition, being a member of National Commodities and Derivatives Exchange Limited (hereinafter referred to as “the NCDEX”), has raised a dispute against the Petitioner, which was referred to the Second Respondent/Sole Arbitrator making a claim of an amount of `1,63,868.65 with interest at the rate of 24% per annum.

2.2. The Petitioner herein, who was the Respondent before the Arbitrator, has got herself enrolled as a constituent of the First Respondent-Company in its branch at Madurai on 23.3.2005 and was carrying out trading activities through the said branch. The Petitioner has deposited with the First Respondent an amount of `10,000/- on 23.3.2005 and in the course of the trading transaction, the Petitioner became due and liable to pay the amount, as stated above, and the amount has not been paid in spite of repeated requests and a demand was made on 8.9.2005. However, the Petitioner has sent a reply on 10.9.2005 denying the