The Award Passed On The Point Of Limitation Is An Interim Award

In a recent judgment delivered on 23rd January 2018, in the matter of M/s Indian Farmers Fertilizer Co- Operative Limited vs. M/s Bhadra Products the Hon'ble supreme Court of India dealt with the ticklish issue of limitation and if an award passed on the basis of limitation would come under the purview of an "Interim Award" as defined under Section 2 (C) of the Arbitration and Conciliation Act 1996 "hereinafter referred to as the ACT ''and how an interim award passed can be challenged separately and independently under Section 34 of the Act.

The Interim Award is contemplated under Section 31(6) of the Act as:-

"The Arbitral Tribunal may, at any time during the Arbitral proceedings, make an interim award on any matter with respect to which it may make a final arbitral award"