https://www.taxtmi.com/caselaws?id=256485 The court dismissed the petition challenging an appellate award under the Permanent Machinery of Arbitrators (PMA). It held that the appellate award reducing the amount awarded to one party and increasing it for another was reasoned and detailed. The court clarified that the Arbitration and Conciliation Act, 1996 applies to arbitration proceedings under the PMA, allowing limited recourse to courts. Additionally, the court upheld the validity of the clause in the Office Memorandum binding parties to the decision of specified officials. The two-tier arbitration procedure under the PMA was found compliant with the A&C Act, and the petition was dismissed as the challenging party had voluntarily accepted the procedure. en-us Fri, 07 Nov 2014 00:00:00 +0530 Wed, 29 Nov 2017 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256485 The court dismissed the petition challenging an appellate award under the Permanent Machinery of Arbitrators (PMA). It held that the appellate award reducing the amount awarded to one party and increasing it for another was reasoned and detailed. The court clarified that the Arbitration and Conciliation Act, 1996 applies to arbitration proceedings under the PMA, allowing limited recourse to courts. Additionally, the court upheld the validity of the clause in the Office Memorandum binding parties to the decision of specified officials. The two-tier arbitration procedure under the PMA was found compliant with the A&C Act, and the petition was dismissed as the challenging party had voluntarily accepted the procedure. Case-Laws Indian Laws Fri, 07 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256485