Modification of arbitral award not allowed due to limited scope of 34 of Arbitration Act

Canara Bank Vs State Trading Corporaton of India Ltd. And ANR (Delhi High Court)

Delhi High Court held that considering the limited scope of judicial review u/s. 34 of the Arbitration Act, court cannot modify the arbitral award by awarding interest to the appellant.

Facts-

The present appeal u/s. 37 of the Arbitration and Conciliation Act, 1966 has been preferred by Canara Bank against the Order and Judgment dated 21.12.2021 passed by the Ld. Single Judge in OMP (COMM) 376/2016 dismissing the application filed by Canara Bank under Section 34(4) of the Arbitration Act, and also setting aside the majority award of the Arbitral Tribunal dated 29.04.2016 to the extent that nil amount was awarded as interest to Canara Bank.

Conclusion-

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