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 Demat and Trading Account for dealing in shares and securities in Futures and Options and Currency Derivative segments. Accordingly, in January 2016, such an account was opened and necessary documents were executed between the petitioner and the respondent. Thereafter, certain other group concerns and family members of the respondent also opened such accounts with the petitioner between January 2016 and October 2016. According to the petitioner, such accounts were opened in t