1 arbp42-10 vai IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.42 OF 2010 Sadanand M. Ingle ....Petitioner V/s. Venture Securities Ltd. & Anr. ....Respondents Mr.Abhijeet Desai i/b Mr.J.P. Patil for the Petitioner. Mr.Simil Purohit i/b Purohit & Co. for Respondent No.1. CORAM : S.J. VAZIFDAR, J. DATE : 23RD MARCH, 2011. P.C. :- 1. This is a petition under section 34 of the Arbitration and Conciliation Act, 1996, to set aside the award made by the arbitral tribunal dated 27.1.2009, dismissing the petitioner’s claim. 2. The petitioner was a constituent of respondent No.1. The claim arises in respect of the share transactions carried out by respondent No.1 in respect of the petitioner’s account. In the statement of claim, alleging that the shares ought to have been sold on the basis that the price of the shares ought to have been determined on 21.1.2008, the loss was computed at about Rs.37,00,000/- allegedly for the wrongful sale thereof subsequently. By an amendment, the date 21.1.2008 was substituted with the date 16.1.2008. On this basis, the alleged loss was enhanced to about Rs.1,10,00,000/-. 3. It was contended that the arbitral tribunal erred in not 2 arbp42-10 considering the claim as originally made on the basis of the relevant date being 21.1.2008, in the alternative having held against the petitioner regarding the relevant date being 16.1.2008. 4. The submission is really academic. The arbitral tribunal has rejected the claim irrespective of the date on which the loss was computed viz. 16.1.2008 or 21.1.2008. The arbitral tribunal found as a question of fact, that when the petitioner’s account was in debit, respondent No.1 was not bound to sell the petitioner’s securities lying in their name. No specific ground regarding failure to notice any clear binding instructions in this regard, has been taken either. This being a question of facts, the finding of the arbitral tribunal cannot, in any event be interfered with by this Court in a challenge to the award. 5. The arbitration petition is therefore, dismissed.