M/S. YASHWITH CONSTRUCTION P.LTD. vs M/S.SIMPLEX CONCRETE PILES INDIA LT.&ANR

The Supreme Court upheld the decision of the High Court's Division Bench, affirming that the Managing Director of a company had the authority to appoint a substitute arbitrator under Section 15(2) of the Arbitration and Conciliation Act, 1996, after the resignation of the originally appointed arbitrator. The Court clarified that Section 15(2) encompasses both statutory rules and contractual provisions for arbitrator appointments. The petitioner's challenge to the Chief Justice's order was dismissed, reinforcing the validity of the arbitration process initiated by the Managing Director.