STAR CONSTRN. & TPT. CO. vs INDIA CEMENTS LTD

The Supreme Court addressed a dispute arising from an arbitration award under the Arbitration Act, 1940, specifically referencing Section 14(2) and Section 17(1). The Court held that the award, which mandated Indian Cements Ltd. to pay Rs. 65,00,000 to Star Construction and Transport Company, was valid and enforceable despite the respondent's claims of set-off. The Court affirmed the Division Bench's decision that the issue of settlement between the parties must be determined in the suit, thus upholding the arbitration award's finality regarding the claims settled therein.