M/S. Nirmal Bang Securities Pvt. Ltd vs Mr. Tilak Bachar on 13 May, 2019
16. He placed strong reliance on the decisions reported in ONGC Ltd. vs.
Saw Pipes Ltd. [2003 (5) SCC 705], MBL Infrastructures Limited vs.
Ircon International Limited [2016 SCC Online Cal 7747], Associated
Builders vs. Delhi Development Authority [2015 (3) SCC 49], MMTC
Limited vs. Vedanta Limited [2019 SCC Online SC 220], Prysmian Cavi
E Sistemi vs. Vijay Karia [2019 SCC Online Bom 19], ONGC vs. Western
Geco [(2014) 9 SCC 263], Commissioner of Customs, Mumbai vs. Virgo
Steels, Bombay and Another [2002 (4) SCC 316] and Munithimmalah
vs. State of Karnataka & Others [(2002) 4 SCC 326] which discuss the
scope and ambit of section 34 of the Act. He further submitted that the
Tribunal misconstrued and misinterpreted the evidence on record and erred
in passing the impugned award. He submitted that the Tribunal placed
undue reliance on the word "awh" and ignored the prior "yes" whereby the
respondent confirmed each of the individual transactions made on
31.10.2013. He further submitted that there was no explanation given by
the respondent for the deposit of Rs.5,00,000/- made after the impugned
trades had been executed.