The issue of enforceability of an arbitration clause contained in an unstamped/ insufficiently stamped agreement has been the subject of various judicial pronouncements. Conflicting decisions have been delivered by various High Courts and even the Supreme Court (“SC”) did not lay down a conclusive position. Recently though, a five judge bench of the apex court, through its judgment in N.N. Global Mercantile Private Limited v. Indo Unique Flame Limited (“NN Global”), finally settled the law on enforceability of arbitration agreements contained in unstamped/ insufficiently stamped arbitration agreements.
Continue Reading Enforceability of an Unstamped Arbitration Agreement