Narayan Prasad Lohia vs Nikunj Kumar Lohia & Ors

The Supreme Court addressed the issue of whether a mandatory provision of the Arbitration and Conciliation Act, 1996 can be waived by the parties involved in arbitration. The Court noted that the arbitration was conducted by two arbitrators, which is contrary to Section 10 of the Act that mandates an odd number of arbitrators. The Court referred the matter to a larger bench for consideration of this significant legal question, emphasizing the need for clarity on the waiver of mandatory provisions under the Act.