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22 October 2021, Friday

3 years ago

Limitation period to file a setting aside petition does not depend on whether the award received by a party is sufficiently stamped or not: Delhi High Court

22 October 2021| NCS Sugars Ltd v. PEC Limited |OMP (Comm.) 18 of 2020 and IA 456 of 2020 & 457 of 2020 | Vibhu Bakhru J | Delhi High Court | 2021 SCC OnLine Del 4826

A petition to set aside an award was filed around seventeen months after the signed copy of the award was received. The petitioner argued that the petition was within limitation because limitation began to run only when a duly stamped and executed award was received.

Bakhru J found the contention, “plainly, unmerited.” He reasoned that:

  1. Under Section 33 of the Stamp Act, 1899 an instrument which is insufficiently stamped is required to be impounded; it does not cease to be an instrument.
  2. Under Section 2(12) of the Stamp Act, 1899 “executed” and “execution”, used with reference to instruments, mean “signed” and “signature includes attribution of electronic record within the meaning of Section 11 of the Information Technology Act, 2000.
  3. Thus, an arbitral award insufficiently stamped is an arbitral award nonetheless.

Read the judgment here.

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Categories: Application for Setting Aside Arbitral Award | Condonation of Delay | Limitation | Limitation for Setting Aside | Limitation Under Section 34 ACA | Section 34 (3) ACA | Stamping of Award

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