#reasoned award

The Bombay High Court upheld an arbitral award where the tribunal awarded Rs. 8.17 crores for risk purchases through reasoned approximation, not precise computation, affirming that Section 34 does not demand mathematical exactitude. This clarifies that parties and tribunals may rely on logical, evidence-based estimates in complex commercial disputes, reducing the risk of awards being set aside on technical grounds.

Delhi High Court sets aside arbitral award for failing to explain denial of interest and costs, affirming that unreasoned awards conflict with public policy under Section 34 of the Arbitration Act.