AI Structured Summary
Not yet generated for this judgment
Judgment
It is borne out from the record that the stamp duty on the arbitral award sought to be enforced was paid beyond one month from the date of the execution of the arbitral award.
This is not in consonance with the scheme envisaged by the Indian Stamp Act, 18991, as applicable in NCT of Delhi.
In view of the judgment passed by this Court in M/s URC Construction (P) Ltd. v. Airports Authority of India2, the award is liable to be impounded.
At this stage, learned Counsel appearing for the Decree Holder seeks leave to withdraw the present petition with liberty to file it again after duly complying with requisite stamp duty and penalty, if any, as payable under the Act.
Leave and liberty as aforesaid, is granted.
The present petition is dismissed as withdrawn with the aforesaid liberty.