HINDUSTAN STEEL WORKS CONSTRUCTION LTD. vs C. RAJASEKHAR RAO

The Supreme Court held that under the Arbitration Act, 1940, specifically Sections 3, 28, and 33, the court has the authority to extend the time for giving an award even after the award has been made, provided the extension is exercised judicially. The court confirmed that an arbitrator's jurisdiction to extend time arises only with the parties' consent post-reference. The court also clarified that an award can be set aside for errors apparent on the face of it, but not for speculative reasoning where no reasons are provided by the arbitrator.