New Delhi, 30/4: The Supreme Court in a 4:1 majority verdict, on Wednesday, held that courts can modify arbitral awards under 1996 law on arbitration, conciliation.
The majority verdict by CJI Sanjiv Khanna said that the power to modify arbitral awards should be exercised with caution by courts. However, Justice K V Viswanathan dissented, saying courts don’t have the power to modify arbitral awards.
