Arbitrator's award set aside for lack of evidence, exceeding jurisdiction & patent illegality. Arbitrator bound by contract terms.

Arbitrator's award set aside for lack of evidence, exceeding jurisdiction & patent illegality. Arbitrator bound by contract terms. https://www.taxtmi.com/highlights?id=79401 Arbitrator's award set aside u/s 34 of Arbitration and Conciliation Act, 1996 due to lack of evidence regarding claimant's readiness to supply materials, arbitrator acting beyond jurisdiction by awarding components barred by agreement between parties, and patent illegality. HC held that arbitrator being creature of contract is bound by agreement's terms, and award violating contractual bar is beyond jurisdiction requiring court's interference. Impugned arbitral award dated September 24, 2020 set aside, application allowed. en-us Mon, 15 Jul 2024 08:16:54 +0530 Mon, 15 Jul 2024 08:16:54 +0530 TaxTMI RSS Generator Arbitrator's award set aside for lack of evidence, exceeding jurisdiction & patent illegality. Arbitrator bound by contract terms. https://www.taxtmi.com/highlights?id=79401 Arbitrator's award set aside u/s 34 of Arbitration and Conciliation Act, 1996 due to lack of evidence regarding claimant's readiness to supply materials, arbitrator acting beyond jurisdiction by awarding components barred by agreement between parties, and patent illegality. HC held that arbitrator being creature of contract is bound by agreement's terms, and award violating contractual bar is beyond jurisdiction requiring court's interference. Impugned arbitral award dated September 24, 2020 set aside, application allowed. Highlights VAT and Sales Tax Mon, 15 Jul 2024 08:16:54 +0530 https://www.taxtmi.com/highlights?id=79401