India says it is studying the award of the Tribunal constituted under the United Nations Convention on the Law of the Sea, carefully. In a press statement issued in New Delhi this evening, External Affairs Ministry said the matter pertains to the Philippines and China.<br/><br/>In its ruling the Permanent Court of Arbitration said there is no legal basis for China to claim historic rights within the South China Sea. However, China said neither it accepts nor recognises the arbitrational Award.