Case Law Analysis
|Bombay High Court
Section 34 Arbitration and Conciliation Act | Arbitral Award Vitiated for Relying on Ex Parte Yahoo Finance Data Without Evidence or Hearing : Bombay HC
The Bombay High Court set aside an arbitral award that granted Rs.4.83 lakh in interest and Rs.2 lakh in legal costs based solely on unverified Yahoo Finance data, denying the parties a fair opportunity to respond. This ruling reinforces that arbitral tribunals cannot substitute judicial scrutiny with unauthenticated market data, upholding natural justice as a non-negotiable pillar of arbitration under Section 34.