OIL & NATURAL GAS COMMISSION vs WESTERN COMPANY OF NORTH AMERICA

The Supreme Court addressed the enforceability of foreign arbitration awards under the Arbitration (Protocol and Convention) Act, 1937, specifically interpreting Article V(1)(e) of the New York Convention. The Court held that the expression 'not yet become binding on the parties' signifies that the enforceability of the award is contingent upon the law governing the award. The Court affirmed that the Indian courts have jurisdiction to determine the validity and enforceability of the award, thus allowing the respondent to proceed with enforcement in the U.S. despite the pending Indian petition to set aside the award under Sections 30 and 33 of the Arbitration Act.