Arbitration and Conciliation Act, 1996, Section 29A(5), (6), (7), (8) -- Time limit for arbitral award - Extension of time - Power to extend time period for making of award vests with Court and not with arbitral tribunal - Therefore, arbitral tribunal may not pronounce award till an application u/s 29-A(5) of the Act is sub-judice before Court...........
Arbitration and Conciliation Act, 1996, Section 29A(1) -- Time limit for arbitral award - Time limit for making an arbitral award u/s 29-A(1) of the Act is not applicable to international commercial arbitration...........
Arbitration and Conciliation Act, 1996, Section 29A(1) -- Time limit for arbitral award - Extension of time - If neither party moves an application for extension of time for making award, arbitration proceedings are terminated...........
Arbitration and Conciliation Act, 1996, Section 31(7)(b) -- Arbitral award - Post award interest - Agreement between parties has no bearing - S.31(7)(b) does not give parties right to "contract out" interest for the post-award period - Expression `unless the award otherwise directs' in S.31(7)(b) of the Act relates to rate of interest and not entitlement of interest...........
Arbitration and Conciliation Act, 1996, Section 7, 8 -- Arbitration agreement - Impleadment of non-signatory to agreement - At the referral stage, referral Court should leave it for Arbitral Tribunal to decide whether non-signatory is bound by arbitration agreement...........
Arbitration and Conciliation Act, 1996, Section 11(6) -- Appointment of arbitrator - Requirement of prima facie existence of an arbitration agreement as stipulated u/s 11 of the Act is satisfied - Former Chief Justice of High Court of Judicature at Bombay appointed as sole arbitrator...........
Arbitration and Conciliation Act, 1996, Section 37 -- Arbitral award - Setting aside - Approach of High Court in holding that Arbitrator neither established nor discussed questions posed by it, is not a ground to set aside Award...........
Arbitration and Conciliation Act, 1996, Section 31(7) -- Arbitral award - Pre-reference and pendente lite interest - Power of Arbitrator to award pre-reference and pendente lite interest is not restricted when the agreement is silent on whether interest can be awarded or does not contain a specific term that prohibits the same...........
Arbitration and Conciliation Act, 1996, Section 31(7) -- Arbitral award - Pre-reference and pendente lite interest - While pendente lite interest is a matter of procedural law, pre-reference interest is governed by substantive law - Therefore, grant of pre-reference interest cannot be sourced solely in S.31(7)(a) (which is a procedural law), but must be based on an..........
Arbitration and Conciliation Act, 1996, Section 11(6), 46(1), Limitation Act, 1963, Article 55 -- Application u/s 11(6) of the Act - Limitation - Notices invoking arbitration were issued 11 years after the cause of action arose in 2011 - This is well beyond the limitation period of three years and the claim sought to be raised is hopelessly barred by limitation -..........
