Arbitral Awards and the Provisions of Stamp Act
In the case of Mohini Electricals Ltd v. Delhi Jal Board [2021] GCtR 3431 (Delhi) it has been held that an award passed at the conclusion of arbitration is an 'instrument' within the meaning of Section 2 (14) of the Indian Stamp Act read with Entry 12 of Schedule I thereof, and, therefore, Sections 33 to 38 of that Act would necessarily, be applicable to an arbitral award when it is sought to be enforced.
It is to be noted that S.2 (c) of A&C Act, 1996 says that the arbitral award includes an interim award. S.36 (1) of A&C Act, 1996 says that arbitral award can be enforced in the same manner as if it were a decree of the Court.
S. 36 of the A&C Act, 1996 indicates that unconditional stay can also be granted if there is element of fraud or corruption.
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