Arbitral award can be challenged u/s 34 only if view adopted is not a possible view

Glitter Overseas & Ors. MMTC Limited (Delhi High Court) Held that an arbitral award can be set aside/ challenged u/s 34 of A&C Act only if an arbitral tribunal’s view is not a possible view and no reasonable person could possibly accept the same. Facts- Glitter Overseas (Petitioner) and MMTC (respondent) entered into a ‘Hypothecation Agreement for Pre and Post Shipment Credit Advance’. Disputes arose between the parties in respect of certain transactions between the years 1993-1996. MMTC claimed that Glitter was liable to pay an amount of ₹1,13,39,008.71/-, on account of shortf...