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In this case, the Court held that an arbitration clause in a lease deed was not enforceable as it was not duly stamped.
The Supreme Court Bench comprising of CJI SA Bobde and Justices BR Gavai and Surya Kant recently observed that an agreement should be duly stamped if the arbitration clause it contains can be enforced.
The Bench reiterated that the agreement cannot not be acted upon by the Court when it is not sufficiently stamped. The observation was made while setting aside an order of the High Court of Karnataka which had appointed an arbitrator on the basis of an insufficiently stamped lease deed.