M/S.RASHTRIYA CHEMICALS & FERTS. LTD. vs M/S.CHOWGULE BROTHERS .

The Supreme Court upheld the majority award of the arbitrators in favor of the respondent, emphasizing that the appellant's refusal to consider wage revisions post-15th January 1984 was unjustified. The Court clarified that the contractual terms allowed for consideration of statutory wage increases, and the appellant's interpretation of Clause 2.03 was too restrictive. The Court held that the respondent was entitled to reimbursement for the wage increases incurred, thus restoring the arbitrators' award.