arbitration process
Arbitration and Conciliation (Amendment) Bill, 2024 — Small Leaps to Align the Law with Practicality
by Yogendra Aldak*, Pranav Mundra** and Rashi Srivastava***
Supreme Court sets aside Calcutta HC judgment denying extension of arbitration mandate beyond deadline for making an award; Directs fresh adjudication of petition
In the Judgment dated 12-09-2024, Supreme Court had held that an application for extension of time for passing an arbitral award under Section 29A (4) read with Section 29A (5) is maintainable even after the expiry of the twelve-month or the extended six-month period. The court, while adjudicating such extension applications will be guided by the principle of sufficient cause.
Allahabad HC partially sets aside arbitral award; Says Arbitrator’s dangerous precedent undermines sanctity of contracts and trust in arbitration
Arbitral proceedings are not cricket matches, where hitting beyond the boundary is usually rewarded