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CHANDRA DHARI SINGH
Jaiprakash Associates Limited – Appellant
Versus
NHPC Limited – Respondent
JUDGMENT
Chandra Dhari Singh, J.
1. The instant petition has been filed on behalf of the petitioner under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter "the Act") raising objections to the Award dated 7th October 2019, corrected on 18th December 2019, (hereinafter "the impugned Award"). The petitioner has prayed for the following reliefs:
"A) call for the records of the arbitration matter between Jaiprakash Associates Limited v. M/s. NHPC Ltd. before the Ld. Arbitral Tribunal comprising Hon'ble Mr. Justice B.P. Jeevan Reddy, Presiding Arbitrator, Sh. K.K. Madan and Sh. V.K. Tyagi, Co-Arbitrators;
B) set aside/Modify the Ld. Arbitral Award dated 07.10.2019 passed by the Two Arbitrators, comprising Hon'ble Mr. Justice B.P. Jeevan Reddy and Sh. K.K. Madan to the extent sought in this petition i.e. quantification and interest and modify the amount to Rs. 208.50 Crores, as given in the Supporting Award of the Third Arbitrator, which has been based upon established and accepted formulae as well as taking due cognizance of the material and evidence on record with the Ld. Arbitral Tribunal."
FACTUAL MATRIX
2. The following course of events has led to the controversy a
An arbitral award must be supported by reasoning and evidence; a Minority Award is merely an opinion and cannot prevail over a Majority Award; the Court cannot modify an arbitral award.
The Arbitral Tribunal must provide reasons for its award, and it cannot pass an award on the basis of equity without express authorization from the parties.
The scope of interference with an Arbitral Award under Section 34 of the Arbitration and Conciliation Act, 1996 is fairly limited and narrow. The Courts shall not sit in an appeal while adjudicating ....
The Court held that the learned Arbitrator had erred in decreeing the award with respect to the rate of interest, and hence, the Award qua issue no. 20 with regards to the rate of interest is liable ....
(1) Appeal against modified arbitral award – Merits of award are only to be gone into, if award is demonstrated to be contrary to public policy of India.(2) Arbitral proceedings are per se not compar....
Judicial review of arbitral awards is limited, focusing on patent illegality and public policy; courts should respect arbitrators' decisions unless they lack evidence or contravene explicit terms of ....
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