State Bank Of India vs Ram Das And Anr

The Supreme Court addressed the validity of an arbitration award under the Arbitration Act, 1940, specifically Sections 14 and 17, following an amendment that mandated reasoned awards. The Court held that the amendment imposed a requirement for arbitrators to provide reasons for their awards, which was applicable retrospectively. Consequently, the Court upheld the City Civil Court's decision to set aside the unreasoned award and remit the matter back to the arbitrators for compliance with the amended provisions.