VidhiSangh

Supreme Court of India · 03/01/2022

I-PAY CLEARING SERVICES PRIVATE LIMITED versus ICICI BANK LIMITED

[2022] 2 S.C.R. 893 · 2022 INSC 7

AI-generated headnote. Verify against the judgment before relying on it. Paragraph numbers refer to the judgment.

Summary

The Court upheld refusal to remit an arbitral award under Section 34(4). That provision permits an opportunity to supply reasons or fill gaps supporting findings already made, but cannot cure the absence of a finding on a contentious issue by having the arbitrator make a new decision or alter the award. The challenged award lacked a finding on illegal termination, while the opponent also alleged disregard of material evidence of accord and satisfaction. Those defects were for the court considering the pending Section 34 challenge. The appeal concerned refusal of remission, rather than final disposal of that challenge.

Issues

  1. Whether Section 34(4) permitted remission to supply a missing finding on a contentious issue.
  2. Whether a party’s request made remission obligatory.

Provisions considered

Held

Result

Appeal dismissed; refusal of Section 34(4) remission affirmed; no order as to costs.

Judgment PDF: Supreme Court of India, [2022] 2 S.C.R. 893.