1 APP437/10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION APPEAL NO.437 OF 2010 IN ARBITRATION PETITION NO.142 OF 2009 Systematix Shares and Stocks (India) Ltd. ...Appellants v/s Vimal Agarwal ...Respondent Mr A.S. Saxena with Mr Gautam Mehta for Appellants. Mr Gaurav Joshi with Mr Manish Doshi i/b M/s Vimadalal and Co. for Respondent. CORAM : D.K. DESHMUKH AND R.G. KETKAR JJ. DATE : 6TH JUNE 2011. 2 APP437/10 P.C. :- 1] The learned Single Judge, in our opinion, has rightly declined to interfere with the award of the learned Arbitrator because there was a clear finding of fact recorded by the learned Arbitrator of the National Stock Exchange that there is no evidence placed on record by the appellant s that there were instructions given by the respondents to enter into transactions on their behalf. The learned Single Judge, in our opinion, rightly did not interfere with this finding of fact. The learned counsel appearing for appellants relied on the judgment of the Supreme Court in the case of Oil and Natural Gas Corporation Ltd. v/s Saw Pipes Ltd., reported in (2003) 5 SCC 705. We have perused the said judgment. Even that judgment nowhere lays down that in the limited jurisdiction of the Court under section 34 of the Arbitration and Conciliation Act 1996, finding of fact recorded by the Arbitrator can be interfered with by the Court. Appeal is rejected. 3 APP437/10 Parties to act on the copy of this order duly authenticated by the Associate / Private Secretary of this Court. Certified copy expedited. ( JUSTICE D.K. DESHMUKH ) ( JUSTICE R.G. KETKAR )