नवीनतम
Courts can modify arbitral awards, SC holds
NEW DELHI [Maha Media]: In a significant verdict, the Supreme Court on Wednesday held courts could modify arbitral awards under the 1996 law on arbitration and conciliation.
In a 4:1 majority ruling, Chief Justice Sanjiv Khanna aside from Justices B R Gavai, Sanjay Kumar and Augustine George Masih held under certain circumstances, the arbitral awards could be modified by using provisions of the Arbitration and Conciliation Act, 1996.
The verdict will impact domestic and international arbitral awards in commercial disputes.
