business ⚖️ SC allows interim relief in arbitration challenges
The Supreme Court ruled that interim relief under Section 9 of the Arbitration & Conciliation Act, 1996 can be extended. This is to stop an award holder from enriching themselves while an award is being contested. The decision was made by a bench of Justice KV Viswanathan and Justice Alok on Tuesday, August 11. This measure aims to preserve the effectiveness of the challenge filed under Section 34. Consequently, it safeguards the rights of the award debtor in complex situations.