BHARAT PETROLEUM CORPN. 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 Agreement under the Arbitration and Conciliation Act, 1996. The Court overturned the Bombay High Court's decision which had set aside the Tribunal's order, emphasizing that the extension of the Charter Party was valid and binding. The Court ruled in favor of Bharat Petroleum Corporation Limited, reinstating the Tribunal's authority to adjudicate the matter.