The Delhi High Court held that an arbitration award cannot be set aside solely because the arbitration agreement was insufficiently stamped. The insufficient stamping is only a violation of the Stamp Act requirements and does not by itself provide grounds for setting aside the resultant award.

The Court clarified that under Section 34 jurisdiction, the Court was not a Court of Appeal against the findings of the Arbitral Tribunal. While an arbitration agreement is required to be properly stamped to be admissible as evidence, if the arbitrator has already admitted the insufficiently stamped agreement and passed an award, the award cannot be challenged later solely on stamping grounds.