New Look Builders and Developers Private Limited vs. Ansal Properties and Infrastructure Limited & Anr.
Background
The decree holder had filed a petition to enforce an arbitral award against the judgment debtors, but at the hearing sought to withdraw it in order to first satisfy stamp duty requirements under the Indian Stamp Act, 1899.
Decision Breakdown
The Court granted leave and liberty to withdraw the petition so that the decree holder could address the stamp duty issue, and the petition was dismissed as withdrawn with that liberty, along with any pending applications.
Lesson Learnt
An arbitral award (or the underlying agreement) that is inadequately stamped can hold up enforcement proceedings: parties should ensure proper stamping before seeking to enforce an award in court.