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India: Modification of arbitral awards: a practitioner’s perspective

13 May 2025 by AZB & Partners - India

The recent Constitution Bench decision reaffirms speed and economy but it has a flipside that could threaten the finality principle. On 30 April, a five-judge Constitution Bench delivered a landmark judgement in Gayatri Balasamy v ISG Novasoft Technologies. In a 4:1 majority, the Bench upheld a court’s power to modify an arbitral award under Sections 34 and 37 of the Arbitration Act, 1996.