Section 34(4) Of The Arbitration And Conciliation Act, 1996 – A Fly In The Ointment? (Part I)

Introduction

The recourse available to a party seeking to challenge an arbitral award is provided for in Section 34 of the Arbitration and Conciliation Act, 1996 (the "Arbitration Act"). Section 34(2) of the Arbitration Act has undergone a few statutory amendments, and has been the subject of innumerable judgments, which highlight the contours within which a challenge to an arbitral award is available. Given that party autonomy and finality of awards are hallmarks of the arbitral process, both the Parliament as well as the judiciary have strived for minimal judicial interference with arbitral awards and arbitration proceedings. This has been done by tightening and limiting the scope and interpretation of the grounds available under Section 34(2) of the Arbitration Act.