HIMADRI CHEMICALS INDUSTRIES LTD. vs COAL TAR REFINING COMPANY

The Supreme Court addressed an appeal against the Calcutta High Court's dismissal of an appeal concerning an interim order under Section 9 of the Arbitration and Conciliation Act, 1996. The Court held that the interim order vacated by the Single Judge was justified as the discrepancies in the Letter of Credit were waived by the appellant, thus affirming the validity of the payment terms. The Court emphasized the importance of adhering to the amended terms of the Letter of Credit and the implications of accepting documents with discrepancies.