The Supreme Court of India in its decision in M/s.
Shriram EPC Limited v.
Rioglass Solar SA (Civil Appeal No. 9515 of 2018) has
settled the issue on which various High Courts had provided
differing judgments and held that foreign awards are not required
to be stamped for enforcement under the Arbitration and
Conciliation Act, 1996.
Facts:
A foreign award was passed in London on 12th February 2015
ordering the Appellant to pay damages and interest thereon. The
foreign award was challenged by way of a Petition under Section 34,
Arbitration and Conciliation Act, 1996 (the
"Arbitration Act") which was dismissed
by the High Court stating that a Petition under Section 34 will not
be maintainable against a foreign award. In the meanwhile, the
Respondent filed a Petition under Section 47 of the Arbitration Act
for enforcement of the foreign award which was allowed vide Madras
High Court's order dated 9th February 2017. An intra court
appeal was preferred by the Appellant
