Yograj Infras.Ltd vs Ssamg Yong Eng.& Constrn.Co.Ltd.& Anr

The Supreme Court addressed the arbitration clause in the contract between the National Highways Authority of India (NHAI) and SSANG YONG Engineering, emphasizing that disputes arising from the agreement must be resolved through arbitration in Singapore as per Clause 27. The Court held that the invocation of bank guarantees by the Respondent was valid due to the Petitioner's failure to perform contractual obligations, thus affirming the enforceability of the arbitration clause and the termination of the contract under Clause 23.2. The outcome favored the Respondent, allowing the invocation of bank guarantees.