Arbitration is a widely accepted method of resolving disputes outside the traditional court system, offering parties a more flexible and efficient alternative. In India, the Arbitration and Conciliation Act, 1996, governs the arbitration process and outlines the legal framework for setting aside an arbitral award. This blog post delves into the key provisions and recent judicial decisions related to setting aside an arbitral award in India.
Grounds for Setting Aside an Arbitral Award
Section 34 of the Arbitration and Conciliation Act, 1996, provides the grounds on which a party can seek to set aside an arbitral award. These grounds include:
It’s important to note that the 2019 amendment to Section 34(2)(a) replaced the words “furnishes proof that” with “establishes on the basis of the record of the arbitral tribunal that.”
Recent Judicial Decisions
Recent judicial decisions have provided further clarity on the grounds and procedures for setting aside arbitral awards:
Understanding the grounds and procedures for setting aside an arbitral award is essential for parties involved in arbitration proceedings in India. Recent judicial decisions have shed light on the interpretation and application of these provisions, ensuring that the arbitration process remains efficient and equitable.