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Ramaprasad (Professor)     06 August 2024

How to recover cost?

I had won an arbitration award against my stock broker.  The broker filed an application u/s 34 of the Arbitration and Conciliation Act to set aside the award.  The court dismissed the application with cost.  The court did not quantify the cost.  How do I recover the cost?  I appeared as party in person.



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 4 Replies

T. Kalaiselvan, Advocate (Advocate)     06 August 2024

This means that the case has decided and the cost which has been prayed by the plaintiff has been awarded. The defendant is liable to pay such cost which is mentioned in the order.

Costs are the fees incurred for the use of a court and are seen in civil and criminal courts of all levels. Court costs usually include the initial filing fee, fees for serving the summons, complaint, and subpoenas, and fees to pay for the transcripttion by a court reporter of depositions or in-court testimony.

Dr. J C Vashista (Advocate )     07 August 2024

Whether the award included cost of litigation ?

The amount of award has to be filed in execution. 

Ramaprasad (Professor)     07 August 2024

Dr Vashista Sir, The award did not include the cost of litigation.  The award amount was Rs 3,13,137/-, which has already been been paid to me by the National Stock Exchange from the funds deposited by the broker.  So, I don't have to file an execution application for the award amount.  The last page of judgement is as follows:

".....Sole Arbitrator which is in turn confirmed by the Arbitral Appellate Tribunal consisting of three Learned members is perfectly in accordance with law and does not call for interference in any manner. Accordingly, none of the grounds raised in the present Petition can be accepted for setting aside the impugned arbitral award. Accordingly, answering the point for consideration in the negative, I proceed to pass the following :-
ORDER
The Petition under Section 34 of the Arbitration and Conciliation Act, is hereby dismissed with cost.
Office to issue soft copy of this judgement to both sides, by email, if furnished. [Dictated using Dragon Professional Speech Recognition Software Version 15.3, transcriptt revised, corrected, signed and then pronounced by me in open court on this the 15th day of July, 2024"

So, the only point remaining is how to get the cost from my opposite party.

P. Venu (Advocate)     07 August 2024

Admittedly the cost has not been awarded. As such, how could there be a question as to realisation of cost?


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