NEW DELHI: The Supreme Court on Wednesday reserved its judgement on the question whether courts could modify arbitral awards under the 1996 law on arbitration and conciliation.
A five-judge Constitution bench comprising Chief Justice Sanjiv Khanna and Justices B R Gavai, Sanjay Kumar, K V Viswanathan and Augustine George Masih heard the submissions in the case, outcome of which could impact domestic and international arbitral awards.
The top court commenced the final hearing on February 13 after the issue was referred to it by a three-judge bench on January 23.