N. INDUMATHI Vs. SUNDARAM FINANCE LIMITED

JUDGEMENT

(1.) There are two petitioners and a sole respondent in the instant 'Original Petition' (hereinafter 'OP' for brevity). Instant OP has been filed under Section 34(2)(a)(iii) of 'The Arbitration and Conciliation Act ' (hereinafter 'A & C Act' for brevity) seeking to set aside an 'arbitral award dated 17.10.2018' (hereinafter 'impugned arbitral award' for brevity) made by an Arbitral Tribunal constituted by a Sole Arbitrator.

(2.) Before proceeding further, it is necessary to make it clear that in A & C Act, with regard to recourse against arbitral award, a legal proceeding for setting aside an arbitral award has been referred to as 'application' in Section 34 of A & C Act. However, such a legal proceeding assailing arbitral awards under A & C Act are being given the nomenclature 'Original Petition' in this Registry and therefore, I am referring to the instant proceedings as 'OP' for the sake of convenience and clarity.

(3.) As mentioned supra, instant OP is one under Section 34(2)(a)(iii) of A and C Act, assailing the impugned arbitral award.