Foreign Arbitral Award Upheld, Promoters’ Challenge Rejected: Supreme Court

The Supreme Court of India has upheld the enforcement of a foreign arbitral award worth more than ₹1400 crore, reinforcing India’s pro-arbitration stance. The Court refused to interfere with the findings of the arbitral tribunal and the High Court, holding that objections raised by the promoters could not block enforcement under Section 48 of the Arbitration and Conciliation Act, 1996. Background Of The Case The dispute arose in the case…