https://www.taxtmi.com/caselaws?id=456341 Section 17 interim relief under the Arbitration and Conciliation Act may be granted on settled principles of prima facie entitlement and balance of convenience to preserve the efficacy of the arbitral process. A tribunal may direct release of contractual amounts against a bank guarantee as a pragmatic safeguard to balance competing claims and prevent the proceedings from becoming infructuous, without acting dehors the agreement. Interference under Section 37 with such an interim order is limited to patent illegality or perversity. The text states that where the tribunal considered the stage of performance, the parties' concerns, and the need to secure the subject matter, the appellate court would not set aside the order. en-us Thu, 15 Dec 2022 00:00:00 +0530 Wed, 17 Jul 2024 20:53:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456341 Section 17 interim relief under the Arbitration and Conciliation Act may be granted on settled principles of prima facie entitlement and balance of convenience to preserve the efficacy of the arbitral process. A tribunal may direct release of contractual amounts against a bank guarantee as a pragmatic safeguard to balance competing claims and prevent the proceedings from becoming infructuous, without acting dehors the agreement. Interference under Section 37 with such an interim order is limited to patent illegality or perversity. The text states that where the tribunal considered the stage of performance, the parties' concerns, and the need to secure the subject matter, the appellate court would not set aside the order. Case-Laws Indian Laws Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456341