JAJODIA (OVERSEAS) PVT. LTD. vs THE INDUSTRIAL DEVELOPMENT CORPORATION OFORISSA LTD.ANDVICE

The Supreme Court held that the arbitration award was not a speaking or reasoned award as it failed to discuss the reasons leading to the conclusions drawn by the arbitrator, thus violating Section 20 of the Arbitration Act, 1940. The Court clarified that merely referencing pleadings does not incorporate them into the award. The appeal by IDCO was dismissed, affirming the High Court's decision to send the matter back for a fresh award due to inconsistencies in the arbitrator's conclusions.