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Urgent call for stamp duty exemption on arbitration agreements to ease legal burden

Article
February 21, 2024

Given the Legal Clarity offered by the SC Decision seven Judge-Bench which Opens Doors for Smooth Dispute Resolution in Business Contracts, it is high time that the government takes steps to exempt payment of stamp duty on Arbitration Agreements and offer a lifeline to countless commercial agreements and documents containing arbitration provisions.

The recent landmark decision by a 7 seven-judge Supreme Court bench, led by Chief Justice Dr. DY Chandrachud, has the potential to revolutionize arbitration in countless unstamped or inadequately stamped agreements. This ruling not only benefits businesses but also promises to alleviate the burden on the judiciary.

Please click here to read the full article by Nitin Potdar, published in Financial Express.