Bharat Petroleum Corporation Ltd vs The Great Eastern Shipping Co. Ltd

The Supreme Court held that the Arbitral Tribunal had jurisdiction to entertain the claims arising from the Time Charter Party between Bharat Petroleum Corporation Limited and Great Eastern Shipping Company Limited, as the extension of the Charter Party was validly agreed upon by both parties. The Court emphasized that the jurisdiction of the Tribunal cannot be negated by internal communications from the Oil Coordination Committee, which declined further extensions. The judgment of the Bombay High Court was set aside, reinstating the Tribunal's authority to adjudicate the matter.