The Supreme Court in the case Widescreen Holdings Private Limited vs Religare Finvest Limited observed that An Insufficient Stamped Document A Court or Tribunal Cannot Impound Until And Unless It is Produced before the Court.
before the Apex Court, a special leave petition filled by the petitioner contended that the original loan agreement containing the arbitration clause. Is not placing on record the original applicant(s).
the bench comprising Justices MR Shah and BV Nagarathna observed.
As far as the impounding of the document is concerned unless and until the same is produced on record before any Court/Tribunal, there is no question of any impounding the same, If the original claimant who has initiated the arbitration proceedings relying upon the arbitration clause contained in the loan agreement is not producing the same, it is ultimately for the learned Arbitrator to pass an appropriate order and to take into consideration such a conduct.
Facts of the Case:
The Tribunal did not dismiss the claim, but merely adjourned the proceedings until till the Loan Agreement is properly stamped. the Delhi High Court observed that since the original Loan Agreements were not produced during the arbitral proceedings, they could not be impounded by the Arbitrator. While allowing the petition to challenge this order as the original Loan Agreements which contained the arbitration clause, were not produced during the arbitral proceedings, the Arbitral Tribunal directed it to be taken to the original Loan Agreements to the Collector of Stamps, Maharashtra for determination of Stamp Duty, before proceeding further in arbitration.
as observed hereinabove there is no question of any impounding the same it is ultimately for the learned Arbitrator to pass an appropriate order and to take into consideration such a conduct. So far as the impounding of the document is concerned unless and until the same is produced on record before any Court/Tribunal.
learned Senior Advocate, Shri Kaul, has submitted that the original applicant(s) is not placing on record the original loan agreement containing the arbitration clause. If the original claimant who has initiated the arbitration proceedings relying upon the arbitration clause contained in the loan agreement is not producing the same.
learned Senior Advocate, Shri Neeraj Kishan Kaul appearing for the petitioners and Shri Ashish Dholakia, learned Senior Advocate for the respondents considering the fact that even the loan agreement which contended contains the arbitration clause which was sought to be impounded is not produced before any Tribunal and/or Court and till then, there is no question of impounding any document, the High Court is justified in passing the impugned order.
The post SUPREME COURT: AN INSUFFICIENTLY STAMPED DOCUMENT A COURT OR TRIBUNAL CANNOT IMPOUND UNTIL AND UNLESS IT IS PRODUCED BEFORE THE COURT appeared first on The Daily Guardian.
