Oil & Natural Gas Corp vs M/S Wig Brothers Builders & ...

The Supreme Court upheld the arbitration award made under the Arbitration Act, 1940, specifically sections 30 and 33, affirming that courts do not reappraise the merits of the award unless there is an error apparent on the face of it or misconduct by the arbitrator. The Court found that the arbitrator correctly determined that both ONGC and the contractor were equally liable for the delay in project completion, thus justifying the compensation awarded to the contractor. The High Court's modification of the interest rate was also upheld, resulting in the dismissal of ONGC's appeal.