#Equity in Arbitration

Bombay High Court sets aside an arbitration award that denied redevelopment compensation based on equity, ruling that arbitrators under Section 28(2) of the Arbitration Act must adhere strictly to express contract terms. The court reinstated the petitioners' entitlement to corpus fund and monthly displacement compensation from March 2018, reinforcing the primacy of contractual clauses over equitable considerations in arbitration.

Bombay High Court sets aside arbitration award directing refund of brokerage for authorized trades, reaffirming that regulatory lapses don't justify equitable compensation.