M/S Lancor Holdings Limited vs Prem Kumar Menon

The Supreme Court examined the impact of undue delay in pronouncing arbitral awards and whether such delays affect their validity. It also considered whether an award that is unworkable and leaves parties in a state of unresolved dispute can be set aside on grounds of perversity, illegality, or public policy. The Court highlighted the importance of timely arbitral awards and emphasized that significant unexplained delays can undermine the enforceability of awards. The Court underscored the need for arbitral tribunals to adhere to prescribed timelines to uphold justice and efficiency.