Courts Possesses Limited Power to Modify Arbitral Award under Arbitration Act
In Gayatri Balasamy v. M/s ISG Novasoft Technologies Limited, a five-judge Bench of the Supreme Court of India ruled that courts possess a limited, functional power to modify arbitral awards under Sections 34 and 37 of the Arbitration and Conciliation Act, 1996, by partially overruling its previous stance in NHAI v. M. Hakeem.