M/S. Vedanta Limited (Formerly Known As ... vs M/S Emirates Trading Agency Llc

The Supreme Court held that the agreement dated 26.10.2007 did not constitute a concluded contract as there was no valid acceptance by the Appellant, who failed to sign and return the draft proposal. The Court emphasized that mere correspondence and proposals do not create binding obligations without a final agreement. The appeal was allowed, overturning the concurrent findings of the lower courts that had deemed the agreement a concluded contract, thus ruling in favor of the Appellant.