New Delhi, Feb 22 (IANS) A 3-judge bench of the Supreme Court has referred to a larger bench the question whether courts are empowered to modify an arbitral award under the Arbitration and Conciliation Act, 1996.
The Bench, headed by Justice Dipankar Datta, noted that while one line of decisions of the top court has answered the above question in the negative, there are decisions which have either modified the awards of the arbitral tribunals or upheld orders under challenge modifying the awards.
Ordering the matter to be placed before the Chief Justice of India for appropriate orders, the Bench, also comprising Justices K.V. Vishwanathan and Sandeep Mehta, stressed that clarity is required for exercise of jurisdiction under Sections 34 or 37 of the Arbitration and Conciliation Act through an authoritative pronouncement.
The reference included the question if the power to modify the award is available, whether such power can be exercised only where the award is severable and a part thereof can be modified and whether the power to set aside an award under section 34 of the Act, being a larger power, will include the power to modify an arbitral award and if so, to what extent.
–IANS
pds/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.