JUDGMENT

(Prayer: This Petition has been filed under Section 34(2)(a)(b)(ii) of the Arbitration and Conciliation Act 1996 to set aside the arbitral award dated 22.07.2019 and correction award dated 24.09.2019 passed by the Hon'ble Arbitrator with costs and claim Rs.10,00,000/- with interest thereon.

1. The petitioner assails an arbitral award dated 22.07.2019 and the subsequent order passed in the petition under Section 33 of the Arbitration and Conciliation Act, 1996 (the Arbitration Act)(collectively referred to as the Award) under Section 34 of the Arbitration Act.

2. The petitioner is a member of the first respondent, which is engaged inter alia in providing broking services in relation to derivative contracts in commodities. After opening a trading account on 10.01.2018, the petitioner carried out trade in commodity derivatives through the Multi Commodity Exchange(MCX) from time to time. The petition relates to orders placed for derivative contracts in a commodity called crude oil mini in February, 2019. The petitioner incurred losses upon execution of the relevant trades. Since the petitioner had grievances both on the ground of failure to advice and technical glitches in the sy