Bombay High Court Upholds Arbitral Award in Distributorship Dispute — Confirmation of Outstanding Dues Constitutes Acknowledgment of Liability. The Court held that a letter confirming outstanding balance and subsequent acknowledgment of dues by the debtor amounts to a valid contract under Section 7 of the Arbitration and Conciliation Act, 1996, and the award based on such acknowledgment is not liable to be set aside under Section 34....
The appeal arose from a judgment of a Learned Single Judge of the Bombay High Court dated 9 December 2011, dismissing a petition under Section 34 of the Arbitration and Conciliation Act, 1996 challeng...
