Himadri Chemicals Industries Ltd vs Coal Tar Refining Company

The Supreme Court addressed an appeal concerning the vacating of an interim order under Section 9 of the Arbitration and Conciliation Act, 1996, which sought to restrain the respondent from receiving payment under a Letter of Credit. The Court held that the appellant's waiver of discrepancies in the documents presented under the Letter of Credit did not preclude the right to seek an injunction regarding the quality of goods supplied. The Court affirmed the need for resolution of quality disputes before payment could be mandated, thereby emphasizing the importance of adhering to contractual terms and conditions.