Arbitration Act: Additional evidence cannot be permitted in Section 34 proceedings: SC

M/s. Canara Nidhi Limited Vs M. Shashikala And Others (Supreme Court) Conclusion: Since proceedings under Section 34 were summary proceedings and was not in the nature of a regular suit and in the arbitration proceedings, the parties had sufficient opportunity to adduce oral and documentary evidence, therefore, there was no necessity of adducing fresh evidence in the application filed under Section 34. Held: Assessee-company was the financial institution advanced a loan of Rs.50,00,000/- to respondent No.1 and respondent Nos.2, 4 and 5 to 8 were the guarantors in respect of such loan.  There ...