Is the Time Mandated to Pass an Arbitral Award Not Mandatory Anymore?
In the recent Indian Supreme Court (“SC”) case of Rohan Builders v. Berger Paints India, the default rule requiring termination of the arbitral mandate under section 29A(4) of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) was held not to be strictly interpreted. Section 29A(4) of the Arbitration Act provides that if the award is…