SC, Power of court to modify Arbitral award: Case of Gayatri Balasamy vs ISG Novasoft Technologies Limited, SC Judgement Dated 30th April 2025. The apex court held that Indian courts have a “limited power” to modify arbitral awards. The Court delineated specific circumstances under which such modifications are permissible:
- Severability: To sever the valid portion of an award from its invalid part.
- Corrections: To rectify clerical, computational, or typographical errors.
- Post-Award Interest: To adjust post-award interest in certain situations.
- Plenary powers of the Court under Article 142: To exercise the Supreme Court’s plenary powers under Article 142 of the Constitution to ensure complete justice.
— The majority emphasized that while courts can intervene in these limited scenarios, they cannot re-evaluate the merits of the case or act as appellate bodies over arbitral tribunals. (SC Judgement Dated 30/04/2025)