9911796707
TMI BlogThe Arbitration Conundrum: Enforceability of Unstamped AgreementsX X X X Extracts X X X X X X X X Extracts X X X X ..... ificant milestone in the annals of Indian jurisprudence. This judgment is pivotal, as it delves into the complex interplay between arbitration agreements and the requirements of stamp duty under Indian law, particularly scrutinizing the harmonization of the Arbitration and Conciliation Act 1996, the Indian Stamp Act 1899, and the Indian Contract Act 1872. This detailed examination sheds light on t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ition was nuanced by the subsequent judgment in Vidya Drolia v. Durga Trading Corporation, which emphasized the necessity of legal validity for an arbitration agreement to exist. * The Pivotal N N Global 2 Judgment: * In N N Global Mercantile (P) Ltd. v. Indo Unique Flame Ltd. (N N Global 2), the majority upheld the principle that an unstamped instrument containing an arbitration agreement i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted from the correct legal position. They argued for a constrained interpretation of Section 11(6A) of the Arbitration Act, focusing on the existence rather than the validity of arbitration agreements, and contended for the role of arbitral tribunals in adjudicating stamp duty issues, emphasizing the need to avoid rendering agreements void due to non-stamping. * Respondents' Counterargumen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to collect revenue through stamp duty on specific instruments. It broadly encompasses various types of instruments, setting forth the conditions under which stamp duty is applicable. * Stamping Compliance and Legal Effects: * The Act specifies the stamping process, the implications of non-compliance, and the authority of various entities to impound unstamped instruments, highlighting the cr ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
