9911796707
TMI Blog2003 (7) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... Kishore for the Respondent. ORDER 1. The appellant herein was engaged in the business of purchase and sale of shares and for that purpose he had been utilising the services of the defendant, who is a broker at the Bombay Stock Exchange. The appellant herein filed a suit for recovery of Rs. 5,63,334 against M/s. Mahendra R. Shah & Bros., who are the respondents herein. The respondents herein on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arbitration. We do not find any merit in the contention. One clause of the Bill, which is printed on the front, reads as under : "All the claims (whether admitted or not) difference and disputes between a member and a non-member or a non-member (the terms "non-member" shall include a remisier, authorized clerk or employee or any other person with whom the members shares brokerage) arising out of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be referred to arbitration in Bombay as provided in the Rules, Bye-laws and Regulations of the Stock Exchange, Bombay." 3. The learned counsel appearing for the appellant urged that a non-member will only be covered if he falls under the definition of a non-member. Since the appellant is neither a remisier or authorised clerk or employee or shares any brokerage with the member, he cannot b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egories, the definition of a 'non-member' has been widened. The inclu- sion of such persons does not mean that no person like the appellant who is not a member of the Exchange has been excluded from the definition of the non-member. This aspect may be examined from another angle. The other clause in the same bill puts the matter beyond doubt. The said clause shows that any claim (whether admitted ..... X X X X Extracts X X X X X X X X Extracts X X X X
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