Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
HC held that the arbitral award was patently illegal due to manifest disregard of contract terms. The court's jurisdiction under Section 37 of the Arbitration and Conciliation Act is limited to examining the correctness of Section 34 proceedings. The impugned judgment correctly set aside the awards by finding that the arbitral tribunal ignored explicit contractual clauses and misinterpreted the General Conditions of Contract. The court emphasized that when contract terms are unambiguous, prior negotiations should not be considered, and interpretations defeating the contract's purpose cannot be sustained. Consequently, the appeals were dismissed without cost.
HC held that the arbitral award was patently illegal due to manifest disregard of contract terms. The court's jurisdiction under Section 37 of the Arbitration and Conciliation Act is limited to examining the correctness of Section 34 proceedings. The impugned judgment correctly set aside the awards by finding that the arbitral tribunal ignored explicit contractual clauses and misinterpreted the General Conditions of Contract. The court emphasized that when contract terms are unambiguous, prior negotiations should not be considered, and interpretations defeating the contract's purpose cannot be sustained. Consequently, the appeals were dismissed without cost.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
