National Aluminium Co.Ltd vs M/S.Pressteel & Fabrications Pvt. Ltd. ...

The Supreme Court addressed the jurisdictional conflict between the Arbitration Act, 1940 and the Arbitration & Conciliation Act, 1996, determining that since the parties consented to conduct arbitration under the 1996 Act, the appropriate court for challenging or modifying the award is the one specified under Section 34 of the 1996 Act, not the court that appointed the arbitrator. The Court held that the applicant's plea to apply the 1940 Act was not permissible given the parties' agreement to proceed under the 1996 Act, thereby affirming the validity of the award made under the latter. The ruling clarifies the applicability of Section 85(2)(a) of the 1996 Act regarding the transition from the 1940 Act to the 1996 Act.