NATIONAL THERMAL POWER CORPN. LTD. vs SIEMENS ATKEINGESELLSCHAFT

The Supreme Court upheld the partial award of the ICC Arbitration Tribunal, affirming that the claims made by Siemens Atkeingesellschaft (SAG) were maintainable despite the counterclaims by National Thermal Power Corporation (NTPC). The Court emphasized that the counterclaims were not arbitrable as they did not meet the conditions precedent for arbitration under Clauses 26 & 27 of the General Conditions of Contract. The judgment reinforced the principle that parties must adhere to arbitration agreements and conditions specified therein, leading to the dismissal of NTPC's appeal against the Tribunal's decision.