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Mar 31, 2022

SC Holds That Erroneous Contract Interpretation by Arbitrator Should Not Lead to Setting Aside of Award if Interpretation is Reasonable

The SC in the case of Indian Oil Corporation Ltd. v. Shree Ganesh Petroleum[1] held that an erroneous interpretation of a contract by an arbitrator should not lead to setting aside of the award, where the interpretation is reasonable. The Court does not ordinarily interfere with interpretation made by the arbitral tribunal of a contractual provision only because another possible interpretation would have been a better one, unless such interpretation is patently unreasonable or perverse.

 

[1] Indian Oil Corpn. Ltd. v. Shree Ganesh Petroleum, 2022 SCC OnLine SC 131.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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