n NISM Certifications
VII NISM Series VII
Medium

Who has the authority to extend the time for issuing an arbitral award after considering the case and recording reasons?

Practice question from NISM Series VII Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    SEBI

  2. The Managing Director of the Stock Exchange

    Correct answer

  3. C

    Both the involved parties

  4. D

    The Broker Association

Why this is the answer

The Managing Director (or Executive Director) of the stock exchange may, for sufficient cause, extend the time for issuing an arbitral award by up to two months, after recording the reasons on a case-by-case basis.

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