Stamping Of An Arbitration Agreement

The High Court of Bombay in an Order dated 12 September 2023 once again upheld that the High Court can conduct the exercise of determining the stamp duty payable under an agreement and authorize an officer of this Court to collect the same which would be transferred to the Collector of Stamps. The officer, so authorized by the Court, would then be entitled to give an endorsement on the subject agreement/document, to certify that the stamp duty along with penalty, as determined by the Court, has been deposited with the Court and the same shall be transferred to the Collector of Stamps.

Brief Facts

John Cockerill India Limited (Company) had employed Mr Sanjay Navare (Employee) to render his services to the Company and accordingly, they had entered into Employee Non-Disclosure and Non-Solicitation Agreement dated 15 November 2021 (Agreement). The Agreement contemplated that the Employee shall be entitled to receive remuneration from the Company, however the quantum