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Can arbitrators rewrite contract terms while granting specific performance of an agreement?
Shreeram Builders vs. Upendra Kantilal Thanawala and others
The Supreme Court set aside the arbitral award granting specific performance because the majority arbitrators rewrote the contract terms rather than applying them, violating Section 28(3) of the Arbitration and Conciliation Act, 1996, and directed the landowners to refund amounts received with 9% simple interest.
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