EXTRACTS FROM THE BYELAWS & REGULATIONS PERTAINING TO ARBITRATION All claims differences or disputes between the Trading Members inter se and between Trading Members and Constituents arising out of or in relation to dealings contracts and transactions made subject to the Bye-Laws Rules and Regulations of the Exchange or with reference to anything incidental thereto or in pursuance thereof or relating to their validity construction interpretation fulfillment or the rights obligations and liabilities of the parties thereto and including any question of whether such dealings transactions and contracts have been entered into or not shall be submitted to arbitration in accordance with the provisions of these Bye-Laws and Regulations.
In all dealings contracts and transactions which are made or deemed to be made subject to the Bye-Laws Rules and Regulations of the Exchange the provisions relating to arbitration as provided in these Bye-Laws and Regulations shall form and shall be deemed to form part of the dealings contracts and transactions and the parties shall be deemed to have entered into an arbitration agreement in writing by which all claims differences
disputes of the nature referred to in clause(1) above shall be submitted to arbitration as per the provisions of these ByeLaws and Regulations. All Claims differences or disputes referred to in clause(1) above shall be submitted to arbitration within 3 years from the date on which the claim, difference or dispute arose or shall be deemed to have arisen. The time taken in conciliation proceedings if any initiated and conducted as per the provisions of the Act and the time taken by relevant authority to administratively resolve the claim differences or disputes shall be excluded for the purpose of determining the period of 3 years.
Save as otherwise specified by the Relevant Authority the seat of arbitration for different regions shall be as follow: Seats Of Arbitration-REGIONAL ARBITRATION CENTRES(RAC) STATES & UNION TERRITORIES COVERED BY THE RAC DELHI Delhi, Haryana, Uttar Pradesh, Himachal Pradesh, Punjab, Jammu & Kashmir, Chandigarh, Rajasthan, Uttranchal. KOLKATA West Bengal, Bihar, Orissa, Assam, Arunachal Pradesh, Mizoram, Manipur, Sikkim, Meghalaya, Nagaland, Tripura, Jharkhand, Chhatisgarh. CHENNAI Andhra Pradesh, Karnataka, Kerala, Tamilnadu, Andaman & Nicobar, Lakshadweep, Pondicherry. MUMBAI Maharashtra, Gujrat, Goa, Daman, Diu, Dadra & Nagar Haveli, Madhya Pradesh. Save as otherwise specified by the Relevant
Authority the criteria for selection of seat of arbitration for a particular matter is as follows: Parties to Dispute Place of filling the Application for Arbitration Place of Hearing TM* V/s Trading Member (a) If the dealing Offices of both Trading Members From where the dealing was carried is situated in any one of the states covered by the particular RAC then the Application for Arbitration shall be filed by the Applicant-Trading Member in that RAC. The hearing shall be held at the RAC where the Applicant-Trading Member has filed the Application for Arbitration and the
RespondentTrading Member shall attend the hearing in that particular RAC. If the dealing Offices of both Trading Members From where the dealing was carried is situated in any one of the states covered by the particular RAC then the Application for Arbitration shall be filed by the Applicant-Trading Member in that RAC. If the dealing offices of both Trading Members from where the dealing was carried out are situated in states covered by different RACs then the
Application for Arbitration shall be filed in the RAC covering the state in which the Respondent-Trading Members dealing office is situated. TM V/s C* & C V/s TM The Application for Arbitration shall be filed by the Applicant at the RAC covering the state in which the Constituent Ordinarily Resides. The hearing shall be held in that RAC where the Applicant has filed the Application for Arbitration and the Respondent shall attend the hearing in that particular RAC. Unless otherwise specifically agreed in writing between the Trading Member and the Constituent, in respect of any claims, disputes and differences arising out of internet
trading between the Constituent and Trading Member, the seat of arbitration shall be the Regional Arbitration Centre within the area in which the Constituent ordinarily resided at the time of relevant trading, provided however in respect of a Non-Resident Indian Constituent, the seat of arbitration shall be the RAC in the area of which the correspondence office of
the Trading Member is situated. *”TM” stands for “Trading Member” and “c” stands for “Constituent” For more details please refer to Chapter XI of the Bye-Laws and Chapter 5 of Capital Market Trading Regulations of The National Stock Exchange of India Ltd.