Purposive interpretation of residential house exemption: unregistered purchase agreement alone does not defeat relief, but investment must be verified...
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HC allowed the appeal under Section 37 of Arbitration & Conciliation Act, 1996, finding the arbitral award fundamentally flawed. The court invalidated the entire award primarily based on unauthenticated CA certificates lacking evidentiary substantiation. The awarded sum of Rs. 65,50,795/- was disallowed due to absence of supporting documentation and unexamined foundational documents. The court determined that the arbitration award's core financial claims were unsupported, thereby rendering the entire monetary determination legally unsustainable. No interference was deemed necessary regarding interest calculations or arbitration costs, with the appeal being comprehensively allowed in favor of the appellant.
HC allowed the appeal under Section 37 of Arbitration & Conciliation Act, 1996, finding the arbitral award fundamentally flawed. The court invalidated the entire award primarily based on unauthenticated CA certificates lacking evidentiary substantiation. The awarded sum of Rs. 65,50,795/- was disallowed due to absence of supporting documentation and unexamined foundational documents. The court determined that the arbitration award's core financial claims were unsupported, thereby rendering the entire monetary determination legally unsustainable. No interference was deemed necessary regarding interest calculations or arbitration costs, with the appeal being comprehensively allowed in favor of the appellant.
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