Venture Global Engineering vs Satyam Computer Services Ltd. & Anr

The Supreme Court held that the enforcement of an arbitration award under the Foreign Exchange Management Act, 1999 (FEMA) must comply with Indian laws, particularly when it involves the transfer of shares. The Court emphasized that the Joint Venture Agreement and Shareholders Agreement mandated arbitration for dispute resolution, and the appellant's challenge to the award was found to lack merit. Consequently, the Court upheld the High Court's dismissal of the appellant's appeal, affirming the validity of the arbitration award.