Morgan Securities And Credit Pvt. Ltd. ... vs Modi Rubber Ltd. Àrespondent

The Supreme Court held that the provisions of the Arbitration and Conciliation Act, 1996 prevail over the Sick Industrial Companies (Special Provisions) Act, 1985. It established that arbitration agreements are enforceable despite the pendency of proceedings under SICA, as the latter does not bar arbitration. The Court upheld the arbitral award in favor of the appellant, confirming the entitlement to the awarded amount and interest as specified in the arbitration agreement.