Penalty cannot be imposed for insufficient stamping of arbitral award at execution stage: Karnataka High Court

Notably, the Court also flagged the need for more clarity in the law as to the stage at which the arbitral award ought to be stamped, if it all this has to be done.
Arbitration and Conciliation Act 1996
Arbitration and Conciliation Act 1996

The Karnataka High Court recently held that penalties under the Karnataka Stamp Act cannot be imposed on “insufficiently stamped” arbitral awards at the stage of enforcement or execution of such awards. [Shakeel Pasha and ors v. M/s City Max Hotels]

Loading content, please wait...
Bar and Bench - Indian Legal news