Negligence in sending password,defaulter is liable
"This is a case almost similar to a cyber crime in which someone caught hold of the password of an on-line trader and indulged in trading in shares on his behalf causing clandestinely a loss of about Rs. 20 lacs to him. As there was an involvement of a third party who was allegedly instrumental in effecting trading loss and as a cheating charge had also been leveled, perhaps it would have been a fit case for the law-enforcing Agency to uncover the truth. Nevertheless, Arbitration dwells purely on the role of the Applicant and the Respondent in the whole process and on their respective lapses, which led to the loss.
OMP 436/2005 & 9/2006 Page 11 of 22 The Himalayan blunder committed by the Respondent was that they used indiscriminately the Demat A/c. of the Applicant for the purpose of provision of the margin etc., on account of the alleged trading done on the Applicant's broking account by transferring shares from the former without keeping the Applicant informed or wi
