ISSUE:
Whether the disputes concerning royalties, cess, service tax, and the Comptroller and Auditor General's (CAG) audit are arbitrable under the relevant laws and contractual agreements, or do they challenge the validity of the Oilfields (Regulation and Development) Act, 1948, rendering any agreement to arbitrate void under Section 23 of the Indian Contract Act, 1872?
Whether the Arbitral Tribunal has the authority to make decisions on disputes involving royalties, cess, service tax, and the CAG audit, despite the cited rules and precedents, and whether its conclusions are enforceable in India, given the potential defense under Article V(2)(b) of the New York Convention based on public policy considerations?
RULE:
Disputes are arbitrated based on applicable laws, commercial agreements, and public policy considerations, and the enforceability of arbitral verdicts in India is subject to the requirements of the New York Convention, which provides for potential public policy defenses.