Interplay Between The Scope Of Correction And Setting Aside Of An Arbitral Award Under The Arbitration & Conciliation Act, 1996

INTRODUCTION

Post completion of the arguments in an arbitration matter, when the arbitral award is passed by the arbitral tribunal, the substantive issues might have been held in your favour, but the actual quantitative aspects might have been miscalculated or incongruent to the substantial portions of the award. In such situations it might seem that challenging the award might be the only option. However, Section 33 of the Arbitration and Conciliation Act ("Arbitration Act") might just be the provision you need to rectify apparent errors in the award. Section 33 provides for correction and interpretation of arbitral award. This section is like Section 152 and 153 of the Code of Civil Procedure, 1908 which allows the courts (either of its own motion or on application of any of the parties) to amend any judgment, decree or order to rectify any clerical or arithmetical mistakes arising therein from any accidental slip or omission by the Court while passing such