https://www.taxtmi.com/caselaws?id=461880 An arbitral award is vulnerable where the tribunal departs from the express contract and reshapes the parties' bargain on equitable considerations. The agreement here provided for a lump sum linked to services already rendered, with the balance payable on completion of the transaction, and the transaction was completed. By reducing the claimant's entitlement on the basis of unstated post-agreement assistance, the tribunal exceeded the contractual mandate and failed to decide in accordance with the contract. In arbitral review, the tribunal must apply the contract as written and cannot rewrite it ex aequo et bono unless expressly authorised. The award was therefore set aside. en-us Mon, 09 Jan 2017 00:00:00 +0530 Tue, 06 May 2025 18:56:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461880 An arbitral award is vulnerable where the tribunal departs from the express contract and reshapes the parties' bargain on equitable considerations. The agreement here provided for a lump sum linked to services already rendered, with the balance payable on completion of the transaction, and the transaction was completed. By reducing the claimant's entitlement on the basis of unstated post-agreement assistance, the tribunal exceeded the contractual mandate and failed to decide in accordance with the contract. In arbitral review, the tribunal must apply the contract as written and cannot rewrite it ex aequo et bono unless expressly authorised. The award was therefore set aside. Case-Laws Indian Laws Mon, 09 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461880