💨 Abstract

The Supreme Court of India has ruled that courts can modify arbitral awards under the Arbitration and Conciliation Act, 1996, under certain circumstances. This decision will impact domestic and international arbitral awards in commercial disputes. The court emphasized the need for caution while modifying awards, and the power to do so can be exercised to correct errors or modify post-award interest in some circumstances.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖