S.29A Arbitration Act | Tribunal's Mandate Can Be Extended Even After Expiry Of Statutory Period And Passing Of Award : Supreme Court
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The Supreme Court held that the mandate of an arbitral tribunal can be extended under Section 29A of the Arbitration and Conciliation Act, 1996, even after the expiry of the statutory period for making an award and after the award has been passed. This allows for correction of errors or omissions in the award.
Ratio Decidendi · Legal Principle Established
The mandate of an arbitral tribunal under Section 29A of the Arbitration and Conciliation Act, 1996, can be extended by a court even after the statutory period for making the award has expired and an award has already been passed, to facilitate correction of errors or omissions.
Practice & Procedural Impact for Advocates
Advocates can seek extension of an arbitral tribunal's mandate under Section 29A even post-award for corrections. Litigants should be aware that awards are not necessarily final upon pronouncement if errors or omissions require tribunal intervention and court approval for extension.
Key Legal Takeaways
- 1Section 29A allows extension of tribunal mandate.
- 2Extension is permissible even after the statutory period for award.
- 3Extension is permissible even after the award has been passed.
- 4The purpose of such extension is to correct errors or omissions.