Based on consideration value, the Supreme Court maintains the legitimacy of pecuniary jurisdiction.

Description

In a 4:1 decision, the Supreme Court of India held that arbitral awards made under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996, are subject to limited court modification. Only some situations allow for modifications, such as fixing administrative mistakes, cutting off areas that aren’t valid, or modifying post-award interest. The goal of this ruling is to strike a compromise between the finality of arbitration and judicial monitoring.
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