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Insufficient Stamp Duty Paid after enforcement of Arbitral Award
08-Jun-2023 (In Arbitration Law)
If there is an arbitral award that has been given in our favour however due to insufficient stamp paid, during the execution petition for the award from our end, the opposite council has contended stating that under the Stamp Act S.33(1) any instrument that is insufficiently stamped must be impounded by the court or fined up to 10x times. nIs there any workaround or any way in which we can avoid the impounding or the fine that will be levied upon us for not paying the fees? Or even a law which enables us to pay the remaining stamp fees to the court without the fine as we would have done before filing the execution petition.
Mere non payment of stamp duty can not put any embargo upon the bill execution of any judicial order in your favor. Court can grant you liberty to pay the requisite fee and comply. However details need to be perused. For any further legal assistance please feel free to contact
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Adv. Bhawana Pandey
Delhi | 500+ Answers
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non-payment of stamp duty does not qualify as a ground for setting aside a Domestic Arbitral Award and is an objection that finds relevance only at an enforcement stage.
A Court before which an unstamped document is produced is bound to impound the same. Once a document is impounded, it is sent to the concerned Collector for adjudication and payment of Stamp Duty, at times involving a penalty.
A Court before which an unstamped document is produced is bound to impound the same. Once a document is impounded, it is sent to the concerned Collector for adjudication and payment of Stamp Duty, at times involving a penalty.
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Adv. Kunal Seth
Delhi | 500+ Answers
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the law as provided under stamp Act does not apply in your arbitration case for the reason that it is the arbitrator who has to ask petitioner party to write award on stamp paper as evaluated by arbitrator so if there is deficiency in stamp then petitioner cannot be penalized. Defect can be rectified and be cured.
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Adv. Siddharth Srivastava
Delhi | 100+ Answers
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