SUPREME COURT : In P. Radha Bai & Ors. vs. P. Ashok Kumar & Anr.

Once   the   party   has received   the   Award,   the   limitation   period   under   Section 34(3) of the Arbitration Act commences. Section 17 of the Limitation   Act   would   not   come   to   the   rescue   of   such objecting party.

A party can challenge an award as soon as it receives the award. Once an award is received, a   party   has   knowledge   of   the   award   and   the   limitation period   commences.   The   objecting   party   is   therefore precluded from invoking Section 17(1)(b) & (d) once it has knowledge   of   the   Award.   Section   17(1)(a)   and   (c)   of Limitation Act may not even apply, if they are extended to Section   34,   since   they   deal   with   a   scenario   where   the application is “based upon” the fraud of the respondent or if the application is for “relief from the  consequences of a mistake”. Section 34 application is based on the award and not on the fraud of the respondent and does not seek the relief of consequence of a mistake.

Link : https://www.sci.gov.in/supremecourt/2012/32981/32981_2012_Judgement_26-Sep-2018.pdf