When Does Delivery Of The Arbitral Award To The Parties Complete

Introduction:

Under the Arbitration and Conciliation Act, 1996 ("the Act"), as amended up to date, the remedies in respect of arbitral award are to be availed within rigid timelines, which are provided under the Act. A party can seek correction of error, interpretation or even additional award by filing an application before the Tribunal within 30 days from the date of receipt of the arbitral award. If, however, a party wishes to challenge the award, it can do so by filing an application before the competent court having jurisdiction in the matter within 3 months from the date of receiving the arbitral award. For challenging an award a further grace period of 30 days is available, however, in that case the party challenging the award must seek condonation of delay in filing the application by explaining the reasons for such delay. The delay can be condoned by the court if it is satisfied that the party was prevented by sufficient cause from making the