Court Sets Aside Arbitral Award for Perverse Conclusions Disregarding Evidence on Record: Delhi High Court

In a recent development, the Delhi High Court made a significant ruling under the Arbitration & Conciliation Act concerning a dispute over loss of profit. The case, titled O.M.P. (COMM) 162/2020, revolved around the assessment of loss of profit and the validity of the arbitral award. Key Details of the Case: The Background: The case involved a dispute between two parties, Mr. X, represented by their counsel Mr. Y, and…