INDIAN RARE EARTHS LTD. vs UNIQUE BUILDERS LTD.

The Supreme Court upheld the decision of the High Court dismissing the appeal against the order of the 1st Additional Civil Judge, which had rejected the appellant's application under Section 30 read with Section 33 of the Arbitration Act, 1940, to set aside the arbitral award. The Court found that the arbitrator had reasonably assessed the claims made by the respondent, awarding Rs.19,55,368 out of a claimed Rs.97,54,143.78, and that there was no valid ground to interfere with the arbitral award. The judgment reinforces the principle that courts should exercise restraint in reviewing arbitral awards unless there are substantial grounds for doing so.