This article examines the challenges surrounding judicial modification and severability of arbitral awards under the Arbitration and Conciliation Act, 1996. It outlines the limited recourse available to parties against an arbitral award, and charts judicial developments on the questions of modification and severability in context of the principle of minimal judicial intervention embedded in arbitration law. In conclusion, the article argues that while the legislative framework seeks to preserve the finality of arbitral awards, practical challenges and prolonged litigation compel courts to engage in selective and substantive intervention with arbitral awards. It suggests that a balanced approach – potentially via legislative amendment – could reconcile the need for judicial oversight with the principle of minimal interference, thereby ensuring speedy and equitable dispute resolution.
Please click here to read the full article authored by our partner, Divyam Agarwal, and senior associate, Aniket Aggarwal, which was published in The Indian Business Law Review.
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Divyam is a dual-qualified Indian Advocate and English Solicitor. Divyam is a specialist in international commercial arbitration and has a broad practice advising and representing corporates and financial institutions in disputes under commercial contracts.