Markfed Vanaspati & Allied Industries vs Union of India

 Markfed Vanaspati & Allied Industries vs Union of India - Supreme Court Case Important Judgments -

11. On 14th September, 2007, a two Judges Bench in Markfed Vanaspati & Allied Industries vs Union of India [Civil Appeal No.2668 of 2007] held that “arbitration is a mechanism or a method of resolution of disputes that unlike court takes place in private, pursuant to agreement between the parties. The parties agree to be bound by the decision rendered by a chosen arbitrator after giving hearing. The endeavour of the Court should be to honour and support the [arbitral] award as far as possible”.

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