All India Bar Examination (AIBE) 3-III Previous Year Question Papers with Answers

B: The arbitral award failed to appreciate the evidence properly.

Explanation:

Under the Arbitration and Conciliation Act, 1996, the following are grounds to set aside an arbitral award:

A. The arbitral award conflicts with public policy.
C. The arbitration agreement is invalid in the eyes of the law.
D. The arbitral award was beyond the scope of reference outlined in the arbitration agreement.
E. The arbitral tribunal was composed in an illegal manner.

However, the ground mentioned in option B, that the arbitral award failed to appreciate the evidence properly, is generally not a ground to set aside an arbitral award under the Act. The Act does not provide for setting aside an award on the basis of errors in the appreciation of evidence or mistakes of fact or law by the arbitral tribunal. Arbitral awards are final and binding, and courts typically do not re-examine the merits of the case or the tribunal's findings on the evidence.

So, option B is the correct answer as it is not a ground for setting aside an arbitral award under the Arbitration and Conciliation Act, 1996.