M/S Mukand Ltd vs Hindustan Petroleum Corporation Ltd

The Supreme Court upheld the findings of the arbitrator and the Bombay High Court regarding the existence of a concluded contract and an arbitration clause under the Arbitration Act, 1940. The Court ruled that the arbitrator's decision was within jurisdiction and not subject to interference under Section 30 of the Act, as there was no misconduct or apparent error in the award. The appeal was dismissed, affirming the modified award amount of Rs.71,31,954.40 with interest at 11% per annum.