Advocates appeared:
For the Appellant(s) : Ms. Madhavi Divan, Sr. Adv. Mr. Amol Chitale, Adv. Mr. Nirnimesh Dube, Adv. Mr. Sunil Goel, Adv. Mr. Ankur S. Kulkarni, Adv. Mr. Susheel Joseph Cyriac, Adv. Ms. Uditha Chakravarthy, Adv. Ms. Aiashani Narayan, Adv. Ms. Priya S. Bhalerao, Adv. Mr. Varun Kanwal, Adv. M/s. Lex Regis Law Offices, AOR
For the Respondent(s): Mr. C. Aryama Sundaram, Sr. Adv. Mr. Tarun Gupta, AOR

Section 32(1) of the Arbitration and Conciliation Act, 1996, provides that within thirty days from the receipt of the arbitral award, unless another period has been agreed upon by the parties, a party may request the arbitral tribunal to correct any computation errors, clerical or typographical errors, or errors of a similar nature occurring in the award (!) . Additionally, if the parties agree, a party may request the arbitral tribunal to give an interpretation of a specific point or part of the award within the same period (!) . The provision emphasizes that the arbitral tribunal shall make the correction or provide the interpretation within thirty days if the request is justified, and such interpretation shall form part of the award (!) .

Furthermore, the section allows the arbitral tribunal to correct errors on its own initiative within thirty days from the date of the award (!) . The period for such correction or interpretation can be extended if necessary, with the approval of the parties (!) .

Importantly, the phrase "unless another period has been agreed upon by the parties" indicates that the default time limit of thirty days is not inflexible, and the parties can agree to extend this period (!) . This flexibility is integral to the provision, ensuring that the correction or interpretation process can be adapted to the specific circumstances and agreements of the parties involved (!) .

In summary, Section 32(1) establishes a statutory time frame for requesting corrections or interpretations of an arbitral award, which can be extended by mutual agreement, thereby providing a mechanism for clarifying or rectifying awards within a flexible and mutually agreed period.