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The Supreme Court has imposed 'exemplary costs' on a firm for attempting to "overreach" the court in the execution of a foreign arbitration award

MMTC loses arbitration case against Vedanta
 

MMTC lost its case against Vedanta Ltd for the fourth time when the Supreme Court last week dismissed its challenge to the award against it by a three-member arbitral tribunal. MMTC and Vedanta had signed an agreement in 1993, according to which the public sector company would provide services such as storage, handling and marketing of the copper items produced by the Vedanta. The agreement contained an arbitration clause. MMTC raised invoices in the name of customers of the products and received a commission from Vedanta. MMTC could supply goods on letter of credit