Bombay High Court: says “a surveyor’s report is not sacrosanct” — Court upholds arbitral award after holding that “the tribunal is entitled to apply a rough and ready formula when exact quantification is impossible” — Court dismisses challenge under Section 34 and affirms wide discretion of arbitral tribunals in technical insurance disputes
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Bombay High Court: says “a surveyor’s report is not sacrosanct” — Court upholds arbitral award after holding that “the tribunal is entitled to apply a rough and ready formula when exact quantification is impossible” — Court dismisses challenge under Section 34 and affirms wide discretion of arbitral tribunals in technical insurance disputes

Court's decision The Bombay High Court upheld the arbitral award and dismissed the Section 34 challenge filed by the Petitioner-insurer. The Court held that the arbitral tribunal had acted within…