SC lays down period of limitation for filing petition under section 34 of the Arbitration Act

The Supreme Court has held that the period of limitation for filing the Petition under Section 34 of the Arbitration and Conciliation Act would commence from the date on which the signed copy of the award was made available to the parties. The bench observed that there can be no finality of the award, except after it is signed and added that in an arbitral tribunal comprising of a panel of three members if one of the members gives a dissenting opinion, it must be delivered contemporaneous. The period for rendering the award and dissenting opinion must be within the period prescribed by Section 29A of the Act.