MMTC LTD. vs M/S.VEDANTA LTD.

The Supreme Court upheld the arbitration award under the agreement dated 14.12.1993, affirming the obligation of MMTC Ltd. to pay Vedanta Ltd. a sum of Rs. 15,73,77,296 with interest as directed by the arbitral tribunal. The Court emphasized the binding nature of arbitration clauses and the authority of arbitral tribunals to determine disputes arising from contractual agreements. The appeal was dismissed, confirming the High Court's decision to disallow the objections raised by the Appellant against the Majority Award.