SUMITOMO HEAVY INDUSTRIES LTD. vs ONGC LTD. & ORS.

The Supreme Court held that the arbitration clause in the contract between the appellant and the first respondent, which stipulated arbitration proceedings to be held in London under the rules of the International Chamber of Commerce, is valid and enforceable. The Court emphasized that disputes arising from the contract must be resolved through arbitration as per the agreed terms, and the High Court's direction to the umpire to file the award was upheld. The judgment reinforces the principle that arbitration agreements must be honored as per the parties' consent under the Arbitration and Conciliation Act, 1996.