₹54 Crore Arbitration Award Against MP Road Development Corporation Upheld, Courts Must Not Undermine Arbitration: Supreme Court
In a significant judgment strengthening India's arbitration framework, the Supreme Court dismissed the appeal filed by Madhya Pradesh Road Development Corporation Ltd. (MPRDC) and upheld the arbitral award passed in favour of Jabalpur Corridor Pvt. Ltd. (JCPL). The Court emphasized that judicial interference in arbitration proceedings should remain extremely limited and that certainty and finality in arbitral awards are essential for maintaining business confidence. Background Of The Road Project The…