Arbitral Process is strictly conditioned upon time limitation. This Court in P. Radha Bai v. P. Ashok Kumar, (2019) 13 SCC 445 observed:
“Section 34(3) reflects the principle of unbreakability. According to this ‘unbreakability’ of time-limit and true to the ‘certainty and expediency’ of the Arbitral Awards, any grounds for setting aside the Award that emerge after the three-month time-limit has expired cannot be raised. Extending Section 17 of The Limitation Act 1963 would go contrary to the principle of ‘unbreakability’ enshrined under Section 34(3).”
If the Courts are allowed to interfere with the Arbitral Process beyond the ambit of the enactment, then the efficiency of the process will be diminished.
– Hon’ble Justice N.V. Ramana, Bhaven Construction v. Executive Engineer, Sardar Sarovar Narmada Nigam Ltd., [Civil Appeal No. 14665 of 2015].