RASHTRIYA ISPAT NIGAM LTD. vs M/S. PRATHYUSHA RESOURCES & INFRA PRIVATE LIMITED

The Supreme Court upheld the High Court's decision confirming the arbitration award in favor of M/s. Prathyusha Resources & Infra Pvt. Ltd. The Court clarified that the cause of action for arbitration arose when the real dispute regarding the base year for escalation calculations was asserted, negating the appellant's claim of limitation under Article 18 of the Limitation Act, 1963. The Court held that the arbitration notice was not barred by limitation, affirming the award made by the Arbitration Tribunal under Section 34 of the Arbitration and Conciliation Act, 1996.