New Delhi, Nov. 5 -- The Supreme Court has reiterated that arbitral tribunals must decide disputes in accordance with the terms of the contract and cannot rewrite agreements or grant relief contrary to the parties' contractual obligations.

The dispute arising from a property development transaction between the parties was heard by a bench of Justice Sanjay Kumar and Justice Sanjeev Sachdeva.

The matter was referred to arbitration, where the majority of the arbitral tribunal granted relief in favour of the respondents, including specific performance.

The arbitral award was challenged before the district court under Section 34 of the Arbitration and Conciliation Act, 1996.

The dispute eventually reached the Supreme Court after the High ...