OIL & NATURAL GAS CORP. vs M/S WIG BROTHERS BUILDERS & ENGINNR.P.LD

The Supreme Court upheld the arbitration award made under the Arbitration Act, 1940, emphasizing 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 noted that the arbitrator found both parties equally liable for a delay in project completion, awarding the contractor compensation for part of the delay. The High Court's reduction of pendente lite interest from 12% to 6% was also upheld, affirming the lower court's ruling that the award should be made a rule of the court.