GENERAL ELECTRIC COMPANY vs RENUSAGAR POWER COMPANY

The Supreme Court interpreted Section 3 of the Foreign Awards (Recognition and Enforcement) Act, 1961, which allows a party to apply for a stay of proceedings in court if arbitration proceedings are ongoing. The Court held that the expression 'before filing a written statement or taking any other step in the proceedings' should be understood in light of Section 34 of the Indian Arbitration Act, 1940. The Court affirmed the High Court's decision to stay the proceedings, ruling that the claims were arbitrable under the agreement between the parties.