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Section 33 of Arbitration and Conciliation Act, 1996
Section 33 of Arbitration and Conciliation Act, 1996 deals with 'Correction and interpretation of award; additional award'.
From the Act
(1) Within thirty days from the receipt of the arbitral award, unless another period of time has been agreed upon by the parties-
(a) a party, with notice to the other party, may request the arbitral tribunal to correct any computation errors, any clerical or typographical errors or any other errors of a similar nature occurring in the award;
(b) if go agreed by the parties, a party, with notice to the other party, may request the arbitral tribunal to give an interpretation of a specific point or part of the award.
(2) If the arbitral tribunal considers the request made under sub-section (1) to be justified, it shall make the correction or give the interpretation within thirty days from the receipt of the request and the interpretation shall form pan of the arbitral award.
(3) The arbitral tribunal way correct any error of the type referred to in clause (a) of sub-section (1), on its own initiative, within thirty days from the date of the arbitral award.
(4) Unless otherwise agreed by the parties, a party with notice to the other party, may request, within thirty days from the receipt of the arbitral award, the arbitral tribunal to make an additional arbitral award as to claims presented in the arbitral proceedings but omitted from the arbitral award.
(5) If the arbitral tribunal considers the request made under sub-section (4) to be justified, it shall make the additional arbitral award within sixty days from the receipt of such request.
(6) The arbitral tribunal may extend, if necessary, the period of time within which it shall make a correction, give an interpretation or make an additional arbitral award under sub-section (2) or sub-section (5).
(7) Section 31 shall apply to a connection or interpretation of the arbitral award or to an additional arbitral award made under this section.
Related Cases / Recent Cases / Case Laws
- Benarsi Krishna Committee and Others Vs Karmyogi Shelters Pvt Ltd, Special Leave Petition (Civil) No: 23860 of 2010; Supreme Court Judgement delivered on September 21, 2012
- Section 28: Rules applicable to substance of dispute
- Section 29: Decision making by panel of arbitrators
- Section 30: Settlement
- Section 31: Form and contents of arbitral award
- Section 32: Termination of proceedings
- Arbitration Act, 1940
- United Nations Commission on International Trade Law
- Indian Contract Act, 1872
- Limited Liability Partnership Act, 2008
- Companies Act, 1956
- Code of Civil Procedure, 1908
- Code of Criminal Procedure, 1973