In MMTC Ltd. v. Anglo American Metallurgical Coal Pvt. Ltd. (3 Nov 2025), the Supreme Court, per Justices Sanjay Kumar and K.V. Viswanathan, upheld enforcement of an arbitral award arising from a Long-Term Agreement for supply of coking coal. MMTC had refused to lift coal during the 2008–09 crash, leading to an arbitral award in favour of Anglo American. After losing challenges to the award, MMTC attempted to block execution under Section 47 CPC, alleging fraud and collusion by its officials in fixing the contract price. The Court rejected this attempt, holding that objections at the execution stage are maintainable only when the decree is void or without jurisdiction, not for re-litigating factual issues. It applied the business-judgment rule, noting commercial decisions cannot be second-guessed with hindsight. It also held that mere registration of an FIR does not invalidate a final arbitral award. Enforcement was allowed.