Res Judicata Not Attracted Where Issue Was Not Framed In Earlier Proceedings: Bombay High Court Partially Modifies Arbitral Award

The Bombay High Court has held that res judicata does not apply where the issue in earlier proceedings was neither framed nor directly adjudicated and that the court exercising jurisdiction under section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) can modify an award by reducing the rate of interest where bad part of an award is severable from the good...