Arbitrator misconstruing contract and relying on equity

The Arbitrators have proceeded on the erroneous notions of equity by using phrase "Heads I win tails you lose" to describe the contentions of the petitioner. The question of interpreting a legal document voluntarily entered into between two parties is a question of law and the document is required to be construed according to law and notions of equity cannot be imported for construing such a document. An arbitrator is not a conciliator and cannot ignore the law or misapply it in order to do what he thinks is just and reasonable. He is a tribunal selected by the parties to decide their disputes according to law and so is bound to follow and apply the law and if he does not he can be set right by the Court provided his error appears on the face of the award. see Seth Thawardas v. Union of India, reported in MANU/SC/0070/1955 : [1955]2SCR48
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