Gayatri Balasamy vs ISG Novasoft Technologies Limited SLP(C) 15336 Of 2021 – S 34,37 Arbitration Act – Court’s Power To Modify Award

Arbitration and Conciliation Act, 1996; Sections 34,37 – Reference to Larger Bench: 1.Whether the powers of the Court under section 34 and 37 of the Arbitration and Conciliation Act, 1996, will include the power to modify an arbitral award? 2. If the power to modify the award is available, whether such power can be exercised only where the award is severable and a part thereof can be modified? 3. Whether the power to set aside an award under section 34 of the Act, being a larger power, will include the power to modify an arbitral award and if so, to what extent? 4. Whether the power to modify an award can be read into the power to set aside an award under section 34 of the Act?