M/S. ISPAT ENGINEERING & FOUNDARY WORKS vs M/S. STEEL AUTHORITY OF INDIA LTD.

The Supreme Court addressed the scope of judicial interference under Section 30 and 33 of the repealed Arbitration Act, 1940, emphasizing that an award can only be set aside for specific reasons such as misconduct by the arbitrator or invalidity of the award. The Court reiterated that re-appraisal of evidence is not permissible and that interference is only justified in cases of total perversity or wrong propositions of law. The appeal was allowed, upholding the validity of the award as the High Court's decision to set it aside was found to be erroneous.