The constitution bench of the Supreme Court of India had in N.N. Global Mercantile Private Limited v. Indo Unique Flame Ltd. and Others, held that non-stamping or insufficient stamping of the underlying agreement would render the arbitration agreement contained therein as non-existent and unenforceable. This article attempts to analyse the likely effects of the decision on all petitions filed before the courts relating to arbitration including the seeking appointment of arbitrators, the jurisdictional powers of the arbitrators and the applications seeking grant of interim measures pending the constitution of arbitral tribunal.