SHIPPING CORPORATION OF INDIA LTD. vs MARE SHIPPING INC

The Supreme Court upheld the arbitration award under the Arbitration and Conciliation Act, 1996, affirming that the parties were bound by the terms of the Charter Party, including the provisions for dispute resolution. The Court emphasized that the arbitration process was conducted fairly and in accordance with the agreed terms, and the findings of the Arbitral Tribunal were not interfered with. The judgment of the Bombay High Court was affirmed, dismissing the Special Leave Petition.