2025:BHC-OS:18807 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.157 OF 2021 Peerless Securities Limited … Petitioner Vs.

Vostok (Fareast) Securities Pvt. Ltd. … Respondent Mr. Sunny Shah a/w. Mr. Yash Kataria and Mr. Akshay Suresh i/b. Ashwin Ankhad & Associates for Petitioner.

Mr. Sean Wassoodew a/w. Ms. Ashna Shah for Respondent.

CORAM : MANISH PITALE, J.

RESERVED ON : 10^th OCTOBER, 2025 PRONOUNCED ON: 14^th OCTOBER, 2025

ORDER :

The petitioner has filed this petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as ‘Arbitration Act’) to challenge arbitral award dated 23.02.2021 passed by a sole arbitrator appointed under the bye-laws, rules and regulations of the National Stock Exchange of India. The sole arbitrator has dismissed the claim preferred by the petitioner and upheld an order dated 11.09.2017 passed by the Investor Grievance Redressal Panel (IGRP). By the said order, the petitioner was directed to pay an amount of Rs.7.18 lakhs to the respondent.

2. The facts, giving rise to the present petition, are that the respondent company engaged the services of the petitioner to open a D