The Supreme Court of India, in a 4-1 majority verdict, has ruled that courts possess the authority to modify arbitral awards under the Arbitration and Conciliation Act of 1996. The judgment, delivered by Chief Justice Sanjiv Khanna, emphasizes that this power should be exercised with caution. The court clarified that modifications can include altering interest burdens, correcting typographical errors, and amending awards where justified. The ruling underscores the judiciary's role in ensuring fairness in arbitration outcomes while cautioning against routine or casual use of this power.