https://www.taxtmi.com/caselaws?id=395209 An arbitral award may be set aside under Sections 34 and 37 where the tribunal's interpretation is not a possible reading of the contract read as a whole and is therefore perverse. Here, Clause 23 covered subsequent laws or changes in law, while the contract separately allocated force majeure and fixed-rate obligations; an increase in HSD price did not fall within that reimbursement clause. The tribunal's broad construction effectively rewrote the bargain and ignored the contractual risk allocation, so the award could not be sustained. The challenge to the High Court's interference therefore failed. en-us Mon, 11 May 2020 00:00:00 +0530 Sat, 09 May 2026 11:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395209 An arbitral award may be set aside under Sections 34 and 37 where the tribunal's interpretation is not a possible reading of the contract read as a whole and is therefore perverse. Here, Clause 23 covered subsequent laws or changes in law, while the contract separately allocated force majeure and fixed-rate obligations; an increase in HSD price did not fall within that reimbursement clause. The tribunal's broad construction effectively rewrote the bargain and ignored the contractual risk allocation, so the award could not be sustained. The challenge to the High Court's interference therefore failed. Case-Laws Indian Laws Mon, 11 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395209