SEDCO FOREX INTERNATIONAL DRILLING vs OIL AND NATURAL GAS CORPORATION LTD.

The Supreme Court ruled that an application under Section 11(4) of the Arbitration and Conciliation Act, 1996 is maintainable and not premature, affirming the appointment of retired Justices Sujata V. Manohar and V. N. Khare as arbitrators to resolve disputes between the parties. The Court emphasized that the arbitrators have the authority to determine their own remuneration and set the hearing dates at their convenience. The arbitration petition was disposed of accordingly.