S. HARCHARAN SINOH vs UNION OF INDIA

The Supreme Court held that under the Arbitration and Conciliation Act, the arbitrator's award is generally binding unless it exceeds jurisdiction as per Section 30. The court clarified that an arbitrator is not required to provide reasons unless stipulated in the arbitration agreement, and an award cannot be set aside solely for lack of reasons. In this case, the High Court's decision to set aside the award for exceeding jurisdiction was upheld, as the arbitrator allowed a rate beyond the agreed terms in the contract.