STATE OF ORISSA vs KLOCKNER & CO

The Supreme Court addressed the validity of a Marketing Agreement between Orissa Mining Corporation and Klockner & Co., emphasizing the binding nature of contractual obligations under Indian Contract Act, 1872. The Court held that the agreement's exclusivity clause, which restricted O.M.C. from marketing its product through other agents, was enforceable. The appeals were dismissed, affirming the High Court's decision that upheld the Civil Judge's order regarding the agreement's terms and obligations.