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Supreme Court: Section 33(1)(a) of Arbitration Act Cannot Alter Nature of Interest in Award - (29 May 2026)

ARBITRATION

Supreme Court held that Section 33(1)(a) of the Arbitration and Conciliation Act, 1996 permits only correction of clerical or computational errors and cannot be used to alter the substance of an arbitral award, including changing interest from simple to compound interest.

Tags : ARBITRATION AND CONCILIATION ACT; INTEREST; AWARD  

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