DRESSER RAND S.A. vs M/S. BINDAL AGRO CHEM LTD.

The Supreme Court upheld the Delhi High Court's decision affirming the order that granted a temporary injunction to BINDAL and KGK, restraining Dresser Rand S.A. from proceeding with arbitration under the Foreign Awards (Recognition and Enforcement) Act, 1961. The Court found that BINDAL and KGK established a prima facie case for the injunction, as no valid arbitration agreement existed between the parties. The Court also confirmed that the requirement for a bank guarantee imposed by the High Court was reasonable under the circumstances.