Justice Vinod Kumar held that an unstamped arbitral award is not executable and rejected British Marine’s application seeking release of the balance amount deposited by SAIL.
“Unstamped Award would not be executable, therefore, the amount cannot be released to Decree Holder,” the Court said
The Court, however, clarified that British Marine could take steps to bring the original arbitral award before the High Court, pay the requisite stamp duty and, thereafter, move a fresh application for release of the money.