Ruling on Limitation by Arbitrator is Interim Award; SC calls for amendment to Section 34

Murali Krishnan January 23 2018
insolvency and bankruptcy code

The Supreme Court today held that an award passed by an arbitrator on the aspect of limitation is an interim award and hence an arbitral award which can be challenged independently under Section 34 of the Arbitration and Conciliation Act, 1996 (Act).

A Bench of Justices Rohinton Fali Nariman and Navin Sinha, which delivered the judgment, also urged the Parliament to amend Section 34 of the Arbitration Act so as to avoid piecemeal challenge of arbitral awards.

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