EXE.ENGR.ROAD DEV.DIVISION NO.III vs ATLANTA LTD.

The Supreme Court upheld the validity of the arbitral award dated 12.5.2012 under the Arbitration and Conciliation Act, 1996, specifically referencing Section 34 which governs the setting aside of arbitral awards. The Court established that the State of Maharashtra's challenge to the award was properly transferred to the High Court for concurrent adjudication with Atlanta Limited's petition, thereby affirming the jurisdictional authority of the High Court. The outcome favored Atlanta Limited, confirming the award of Rs.58,59,31,595/- along with interest and costs.