The Supreme Court said courts have jurisdiction to decide an appeal against the award of a foreign arbitration tribunal when there is no agreement on the question of venue for arbitration. A contract should be given a ‘holistic’ interpretation. A three-judge Bench presided over by Chief Justice Dipak Misra clarified the position while setting aside the judgment of the Delhi high court in a dispute between the Ministry of Petroleum & Natural Gas and Hardy Exploration & Production (India) INC over product sharing contract.