Morgan Securities And Credit Pvt. Ltd. Ã ... vs Modi Rubber Ltd. Ã Respondent

The Supreme Court ruled that the provisions of the Arbitration and Conciliation Act, 1996 prevail over the Sick Industrial Companies (Special Provisions) Act, 1985, particularly in cases involving arbitration agreements. The Court held that the arbitration clause in the agreement between the parties is enforceable despite the pendency of proceedings under SICA, emphasizing the importance of upholding arbitration as a dispute resolution mechanism. The appeal was allowed, reinforcing the validity of the arbitration award made in favor of the appellant.