SC refers to seven-judge bench to reconsider correctness of verdict on unstamped arbitration agreements

Updated: Sep 26 2023 5:41PM

New Delhi, Sep 26 (PTI) The Supreme Court on Tuesday referred to a seven-judge bench the issue of reconsidering the correctness of a verdict delivered by a five-judge bench which had said that unstamped arbitration agreements are not enforceable in law.

A five-judge bench headed by Chief Justice D Y Chandrachud passed the order while considering a curative petition in which the matter regarding the need for reconsideration of the five-judge bench judgement delivered on April 25 this year was raised.

"Having regard to the larger ramifications and consequences of the view of the majority in NN Global (April verdict)… we are of the considered view that the proceedings should be placed before a seven-judge bench to reconsider the correctness of the view of the five-judge bench," said the bench, also comprising justices Sanjay Kishan Kaul, Sanjiv Khanna, B R Gavai and Surya Kant.