2001 (10) TMI 1044 - SC - Companies Law

Whether the provisions of section 5 of the Limitation Act, 1963 are applicable to an application challenging an award, under section 34 of the Arbitration and Conciliation Act, 1996?

Held that:- Appeal dismissed. The time expiring under section 34 is that the award becomes immediately enforceable without any further act of the Court. If there were any residual doubt on the interpretation of the language used in section 34, the scheme of the 1996 Act would resolve the issue in favour of curtailment of the Court’s powers by the exclusion of the operation of section 5 of the Limitation Act.