Union Of India vs Saraswat Trading Agency & Ors

The Supreme Court upheld the arbitration award in favor of the respondent, affirming the decision of the Calcutta High Court's Division Bench which restored the award on all three issues. The Court emphasized the binding nature of the arbitration agreement under the Arbitration and Conciliation Act, 1996, particularly Section 34, which allows for limited grounds to challenge an arbitration award. The Court found no merit in the Union of India's appeal, thereby reinforcing the sanctity of arbitration awards in contractual disputes.