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Judgment
Manoj Jain, J
The present petition has been filed under Section 29A of Arbitration & Conciliation Act, 1996 whereby the petitioner, who is claimant before the learned Arbitral Tribunal, seeks extension of the mandate of the Arbitral Tribunal which is due to expire on 30.06.2025.
Admittedly, this is third application of its kind. The mandate was earlier extended on 19.10.2023 and again on 01.10.2024.
Learned counsel for the respondent appears on advance notice and submits that she would also have no objection if the mandate is extended.
It is also submitted by learned counsel for both the parties that the case has already reached the stage of final arguments and there is every likelihood of the matter getting culminated very shortly.
It is also submitted that that the substantial time has taken place on account of the complexities of the issues involved and voluminous record.
It is also apprised that though the matter is otherwise fixed for hearing of final arguments, in the interregnum, an application under Section 17 of Arbitration & Conciliation Act, 1996 has also been moved from the side of the respondent and, therefore, the mandate be suitably extended.
Keeping in mind the facts presented before this Court, the voluminous nature of the case and appreciating the fact that the respondent also has no objection to the petition in question, the time period for completion of arbitral proceedings and making of arbitral award is hereby extended till 31.03.2026.
The petition stands allowed in abovesaid terms..