Before the Sole Arbitrator, Mr. G. K.

Sharma In the matter of Arbitration under the Bye-Laws, Rules and Regulations of National Stock Exchange of India Limited Arbitration Matter No. F&O / M-0096 / 2011 Between
Sharekhan Limited : (Trading Member) : 10th, floor, Beta Building, : Lodha iThink Techno Campus, Off JVLR, : Kanjurmarg (East) : Mumbai 400 042. : AND Mr. Viraj S Patel (Constituent) Vimla Kunj , Nariman Road , Vile Parle (East) , Mumbai 400 057 PAN No. AAEPP9014F : : : : :

Applicant

Respondent

AWARD

1. National Stock Exchange of India Limited vide letter dated August 18, 2011 has referred the aforesaid Arbitration matter to the Sole Arbitrator, Mr. G. K. Sharma, to enquire into the dispute between the above parties under the Bye-Laws, Rules and Regulations of the National Stock Exchange of India Limited (NSE).

2. The initial hearing in the aforesaid matter was fixed for September 21, 2011 at the office of the National Stock Exchange of India Limited, Exchange Plaza, Bandra Kurla Complex, Mumbai by notices issued to both the parties by the Arbitration Department of the National Stock Exchange of India Limited.

3. The Applicant, M/s Sharekhan Limited (trading member of the National Stock Exchange of India Limited) has filed claim for an amount of Rs. 6,22,934.42 (Rupees Six Lakh Twenty Two Thousand Nine Hundred and Thirty Four and Paisa Forty Two Only) against the Respondent, Mr. Viraj S Patel (Constituent), residing at Vimla Kunj, Nariman Road, Vile Parle (E), Mumbai-400 057. The Applicant stated that the amount claimed include delay pay in charge of Rs. 1,13,988.86.

4. The Applicant is a trading member of NSE dealing in Capital market and Future & Options Segment and is also registered with SEBI. In the statement of case, the Applicant has stated that the Respondent has opened a trading account and signed the Member Client Agreement in May 2005. The Applicant has submitted copy of Member Constituent Agreement dated May26, 2005 duly signed by the Respondent. The Applicant has stated that the Respondent thereafter executed trades and that the Applicant has from time to time furnished contract notes and bills towards the said trades executed by the Respondent through the Applicant.

5. At the time of initial hearing held on September 21, 2011 the Applicant was represented by Mr. Kailash Waghela, Authorised Official. The Respondent was not present. The Applicant submitted that they have received a fax from the Respondent whereby he is willing for settlement with them. A copy of the fax dated September 21, 2011 was also received by NSE on the date of hearing. At the request of Applicant matter was adjourned for October 11, 2011. Subsequently, the Applicant forwarded a letter dated October 11, 2011 stating that they would like to withdraw the matter.

6. Considering the letter dated October 11, 2011 written by the Applicant for withdrawal of Arbitral reference and the fact that the Respondent has not submitted any counter claim, the matter is allowed to be withdrawn by the Applicant. The following award is passed.

AWARD

(i) At the request of the Applicant, the Arbitral reference is allowed to be withdrawn.

(ii) Cost of arbitration to be paid by Applicant.

(iii)The award is signed and issued in three originals, one for each of the parties and one for the record of the National Stock Exchange of India Limited.

Place: Mumbai Dated this 17th day of November, 2011.

G. K.Sharma (Sole Arbitrator)