Time to pass arbitral award can be extended even after 18 month deadline: Supreme Court

The Supreme Court has addressed the issue of time extensions for arbitral awards, clarifying the conditions under which such extensions may be granted. The ruling provides guidance on the procedural aspects of arbitration, particularly concerning deadlines and the extension of time for issuing awards. This decision is crucial for maintaining the efficiency and effectiveness of arbitration as an alternative dispute resolution mechanism. It ensures that arbitrations are conducted within reasonable timeframes while accommodating the complexities of individual cases.