Inequitable or unfair advantage not adequate ground to allow interference to Arbitral Award

Macro Marvel Projects Ltd Vs J. Vengatesh (Madras High Court)

Madras High Court held that interference with Arbitral Award under Section 34 of the Arbitration and Conciliation Act, 1996 on the ground of inequitable nature or unfair advantage not justified

Facts-

This intra-Court appeal is filed against the order of the learned Judge, dated 19.08.2019, whereby, the learned Judge allowed the Original Petition filed by the respondents 1 to 3 under Section 34 of the Arbitration and Conciliation Act, 1996 and set aside the award, dated 21.01.2008 passed by the Arbitral Tribunal in favour of the appellant, which was in the nature of specific performance of the contract being the sale of plots and instead, awarded a sum of Rs.50,00,000/- to the appellant.

Conclusion-

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