HRD CORPORATION (MARCUS OIL AND CHEMICAL DIVISION) vs GAIL (INDIA) LIMITED (FORMERLY GAS AUTHORITY OF INDIA LTD)

The Supreme Court addressed the applicability of Sections 12 and 14 of the Arbitration and Conciliation Act, 1996, particularly focusing on sub-section (5) added by the Arbitration and Conciliation (Amendment) Act, 2015. The Court held that the appointment of arbitrators must comply with the eligibility criteria outlined in the Fifth and Seventh Schedules of the Act, emphasizing the importance of impartiality and independence in arbitration proceedings. The Court ultimately upheld the decision of the lower court regarding the validity of the arbitrators' appointments, affirming the dismissal of the petitions challenging the appointments.