Supreme Court: Parties can jointly request the Arbitrator to correct or interpret an award even after expiry of 30 days period of receipt of Arbitral Award

Supreme Court has ruled that the period of 30 days as provided in Section 33(1) is not an inflexible period based upon the language of sub-Section (1) of Section 33 of the Arbitration & Conciliation Act, 1996. Said period can be extended if mutually agreeable between the Parties.