|Bombay High Court
Section 34 Arbitration Act | Oral Assurances Without Corroboration Are Unenforceable; Counsel’s Concessions Bind Even in Party’s Absence : Bombay HC
The Bombay High Court upholds an arbitral award rejecting a Rs 6.45 crore claim, ruling that uncorroborated oral assurances from a party’s representative cannot override written contracts, and that concessions made by counsel during arbitration are binding regardless of the party’s presence. This reinforces that procedural integrity in arbitration trumps speculative verbal promises, impacting contract negotiators and corporate advisors relying on informal commitments.