Supreme Court: Arbitration Agreement In Unstamped Contract Which Is Exigible To Stamp Duty Not Enforceable: Supreme Court Holds By 3:2 Majority Case Title: M/s. N.N. Global Mercantile Pvt Ltd.
The reference to a five-judge Bench was necessitated given the decision of the top court in NN Global Mercantile, which doubted the correctness of Vidya Drolia.
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs45 lakh on Naresh Mehta and Pallavi Mehta for insider trading in the scrip of Deepak Fertilizers Petrochemical Corp Ltd (DFPCL).
The Supreme Court appointed Senior Advocate Gourab Banerji as amicus curiae in a Constitution Bench case dealing with the validity of an arbitration agreement embedded in unstamped contracts.