ISSUE:
Whether the respondent's motion for correction of the arbitral award, filed on December 29, 2016, was maintainable under Section 33 of the Arbitration Act after the 30-day limitation period from the date of service of the arbitral judgement?
Whether it is possible that the respondent's late application under Section 33, which was not maintainable, could prolong the time limit for the petitioners to file an arbitration petition under Section 34 challenging the initial arbitral judgement of June 4, 2015?
RULE:
In India, the Arbitration and Conciliation Act of 1996 oversees the resolution of arbitration issues. Section 34 of the Act addresses the setting aside of an arbitral award, while Section 33 addresses award revision and interpretation.