M/S. GRASIM INDUSTRIES LTD. vs M/S. AGARWAL STEEL

The Supreme Court held that the presumption of understanding and acceptance applies when a party signs a document, as per the Arbitration and Conciliation Act, 1996. The Court found that the respondent's claim of signing under mistake was not substantiated, as there was no evidence of force or fraud. Consequently, the Court set aside the High Court's judgment and remanded the matter for expeditious disposal, maintaining that the document Ex.D-8 was valid and binding.