arbitration award

Adv Amit Kulkarni (Querist) 19 November 2010 This query is : Resolved
dear members of LCI
i have a query, after passing the arbitral award, is it possible to change it by submitting an application before the arbitrator, who has passed the same award.
or is there any suit of delceration is required to be submitted before civil court for cancellation of award?

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Khaleel Ahmed Mohammed (Expert) 19 November 2010
If both parties are agree , this can be done through agreement.

Sri Vijayan.A (Expert) 19 November 2010
1. Out of court/ arbitration settlement is always available to the parties.
2. If any party is aggrieved, he can appeal it

Devajyoti Barman (Expert) 19 November 2010
The arbitral award once passed can not be changes except correcting typographical mstakes.
However if both the parties agrees then some compromise could be reached before the arbitral tribunal.
If either of the parties so wants ,he can make application u/s 34 of the Act for setting aside the award.

s.subramanian (Expert) 19 November 2010
yes. I agree with Mr.Barman.

Kirti Kar Tripathi (Expert) 21 November 2010
i also.

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