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2021 (1) TMI 1121 - SC - Indian LawsDoctrine of separability of an arbitration agreement from the underlying substantive contract in which it is embedded - validity of arbitration agreement if the underlying contract was not stamped as per the relevant Stamp Act - fraudulent invocation of the bank guarantee furnished under the substantive contract - arbitral dispute or not. HELD THAT:- It is deemed appropriate to refer the following issue, to be authoritatively settled by a Constitution bench of five judges of this Court: Whether the statutory bar contained in Section 35 of the Indian Stamp Act, 1899 applicable to instruments chargeable to Stamp Duty Under Section 3 read with the Schedule to the Act, would also render the arbitration agreement contained in such an instrument, which is not chargeable to payment of stamp duty, as being non-existent, unenforceable, or invalid, pending payment of stamp duty on the substantive contract/instrument? The Registry may place this matter before the Hon'ble Chief Justice of India for appropriate orders/directions.
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