M/S.Rashtriya Chemicals & Ferts. Ltd vs M/S.Chowgule Brothers & Ors

The Supreme Court upheld the majority award of the arbitrators in favor of M/s Chowgule Brothers, reversing the Bombay High Court's decision that had set it aside. The court emphasized the importance of respecting the arbitration process and the finality of arbitral awards, particularly when the award is based on the terms agreed upon by the parties. The ruling reinforced the principle that courts should exercise restraint in interfering with arbitration awards unless there are compelling reasons to do so.