https://www.taxtmi.com/caselaws?id=461129 After the amendment to Section 17 of the Arbitration and Conciliation Act, 1996, an arbitral tribunal may grant interim protection to secure a monetary claim, including by directing that funds be maintained in bank accounts, where a prima facie case is shown so the eventual award is not rendered ineffective. The tribunal's decision was supported by the appellant's bank transactions and financial disclosures, and its view on the material was found to be plausible. In appeal under Section 37, interference is limited to cases where the tribunal's order is perverse or contrary to law; a mere possibility of another view is insufficient. The interim security order was therefore not disturbed. en-us Wed, 16 Oct 2019 00:00:00 +0530 Sat, 15 Mar 2025 20:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461129 After the amendment to Section 17 of the Arbitration and Conciliation Act, 1996, an arbitral tribunal may grant interim protection to secure a monetary claim, including by directing that funds be maintained in bank accounts, where a prima facie case is shown so the eventual award is not rendered ineffective. The tribunal's decision was supported by the appellant's bank transactions and financial disclosures, and its view on the material was found to be plausible. In appeal under Section 37, interference is limited to cases where the tribunal's order is perverse or contrary to law; a mere possibility of another view is insufficient. The interim security order was therefore not disturbed. Case-Laws Indian Laws Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461129