Defaulter Under Rules

The Exchange has declared Shri Akhil K. Dalal (Clg. No. 009), member of the Exchange as defaulter under Rules, Bye-laws and Regulations of the Exchange for non-implementation of the various Arbitration Awards obtained by the clients in their favour.

Shri Akhil K. Dalal (Clg. No. 009) was restrained from doing any further business on the Exchange w.e.f. 22nd September, 1997.

This declaration will not have any impact on the Trade Guarantee Fund.

Those members/investors who have any outstanding claims against defaulter - Shri Akhil K. Dalal (Clg. No. 009) are required immediately to file their claims in arbitration and obtain arbitration awards in their favour and then put up their claims supported by arbitration awards to the Defaulters' Committee for its consideration. If no such claims are put up within six months, the Defaulters' Committee will not entertain the claims of such members/investors at a later date. These claims should be filed with Dy. General Manager, Investors Services Cell, 1st Floor, Rotunda Bldg., Dalal Street, Fort, Mumbai 400 001.

Those members/investors who have already obtained such arbitration awards in their favour, but have not put up their claims, are required to put up their claims supported by the arbitration awards before the Defaulters' Committee for its consideration immediately and in any case not later than 25th June 2001.

In case of future objections arising against the above named defaulter, members/investors should obtain arbitration awards in their favour within six months and file the awards with the Defaulters' Committee for its consideration. If no such claims are put up as stated in this para, the Defaulters' Committee will not consider the claims of such members/investors after the stipulated time.

A. N. Joshi
Executive Director