Courts Can Modify Arbitral Awards In Certain Circumstances Under S.34/37 Arbitration Act: Supreme Court By 4:1

The Supreme Court, by a 4-1 majority, ruled that courts have limited power to modify arbitral awards in certain circumstances. The court reiterated the principle of minimal judicial interference in arbitration, emphasizing that courts can only set aside awards on specific grounds but generally cannot change the substance of the arbitrator's decision. This reinforces the autonomy of the arbitral process.