The Madhya Pradesh Road Development Corporation Ltd. (MPRDC) appealed to the Supreme Court against a High Court judgment that had upheld an arbitral award in favour of M/s Jabalpur Corridor Pvt. Ltd. (JCPL), a Special Purpose Vehicle incorporated to implement a BOT road project on the Sagar-Damoh-Jabalpur Road under a Concession Agreement dated 11.04.2003. The dispute arose from the termination of the Concession Agreement and the consequent entitlement to Termination Payments, including Debt Due, Subordinated Debt, and Equity, as defined and governed by the Concession Agreement. The High Court, exercising its limited appellate jurisdiction under Section 37 of the Arbitration and Conciliation Act, 1996, found no ground to interfere with the District Court's order dismissing MPRDC's application under Section 34 of the 1996 Act to set aside the majority arbitral award dated 22.08.2014. The Supreme Court, in this appeal, noted that judicial interference in arbitration has often been excessive in India and emphasised the values of certainty, uniformity, and finality in arbitral proceedings. The full outcome of the Supreme Court's decision is not determinable from the text provided, as the judgment text is incomplete.
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