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3. On 14th August, 2012, the petitioner and the respondent executed 'Know Your Client' form and Member Client Agreement thereby the respondent appointing the petitioner as her commodity broker for execution of transactions for sale and purchase of commodities listed for trading at the said MCX. It is the case of the petitioner that in the said Member Client Agreement, the respondent had given mandate to the petitioner for sending her Electronic Contract Notes on her email id [email protected] and had given authority to maintain her ledger account with the petitioner on running account basis. It is also the case of the petitioner that the respondent had also given to the petitioner authority for sending her SMS for providing her bill summary, her ledger balance and applicable margin by providing mobile no.9819190786. The respondent had executed a letter/undertaking and authorised the petitioner for adjustment of debit and credit balance of the respondent between different segments of the Exchange and between different exchanges in her ledger account amongst respondent group which includes the petitioner and BPL.

13. Learned counsel for the petitioner submits that the petitioner had sent electronic contract note for the trade dated 30 th March, 2013 for a debit of Rs.69,33,254.49 which specifically provided for raising objection if any, to the trade shown in the said contract note within 24 hours from the receipt of the contract note. The respondent however disputed the validity of the said transaction for the first time in her reply filed before the arbitral tribunal.