Kambli 1 arbp1230.10 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO.1230 OF 2010 ... M/s.M.P.Vora Shares & Securities Pvt.Ltd. ...Petitioner v/s. M/s.Mehta Finstock Pvt.Ltd. ...Respondent ... Mr.S.S.Purohit i/b Purohit & Co. for the Petitioner. Mr.ajay Khandhar for the Respondent. ... CORAM: D.K.DESHMUKH, J. DATED: 17th June, 2011 P.C.: Admit. Heard finally by consent of parties. 2. So far as rejection of the claim of the Petitioner by the learned arbitrator on the ground that it is barred by limitation is concerned, the Petitioner does not press this petition in view of the Circular issued by the SEBI, as the Petitioner proposes to approach the arbitral tribunal again on the basis of that Circular. The award, however, shows that after holding that the claim is barred by limitation, the learned arbitrator observed that on merits also the claim is liable to be dismissed. Having recorded a finding that the Kambli 2 arbp1230.10 claim is barred by limitation, the learned arbitrator had no jurisdiction to say anything on merits. Therefore, the observations in the award that the claim is also rejected on merits is set aside. 3. In case the Petitioner again approaches the arbitral tribunal on the basis of the SEBI Circular, such application shall be considered by the arbitral tribunal on its own merits. In that event, all contentions available both the sides are kept open. Petition disposed of. (D.K.Deshmukh, J.)