EquiCorp Associates

  Today in high octane and complex business relationship runs on contractual relationship and at times the strain on such relationship results in disputes among the parties in commercial relationship which makes it difficult to continue together in business. Arbitration is an efficient and effective manner to resolve such disputes among the parties. Arbitration often try to preserve or protect the existing relationship amongst the parties, unlike court procedures where sometimes the final outcome can result in the relationship coming to an end between both parties. To protect their rights, the parties enter into agreements and include the arbitration agreement /clause as part of their commercial transactions. In recent few years, the enforceability of such agreements had been challenged on ground of no-payment of stamp duty or insufficient stamp duty. In 2021, in the matter   N.N. Global Mercantile Private Limited v. Indo Unique Flame Limited & Ors. [1]   (“ NN Mercantile Case