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Judgment
15 paragraphs · 300 wordsJyoti Singh, J
I.A. 13634/2019 (Exemption)
Exemption allowed subject to all just exceptions.
The application stands disposed of.
O.M.P.(MISC.)(COMM.) 389/2019
Issue notice.
Mr. Puneet Taneja, Advocate, enters appearance and accepts notice on behalf of the respondent.
This is a petition has been filed under Section 29B(5) read with Section 29A(4) of the Arbitration and Conciliation Act, 1996 ('Act') seeking extension of time making the Award.
The Arbitration commenced on 07.03.2017 under Section 29 B of the Act under the 'Fast Track Procedure'.
The statutory period of twelve months for making the Award expired on 06.03.2018. The petitioner approached this Court in OMP (Misc.)(Comm.) 60/2018 for grant of extension of nine months and this Court vide order dated 23.04.2018 extended the time till 31.12.2018.
During the extended period, the parties filed their supplementary statement of claim and counter claim. The affidavit of evidence of the witnesses was filed on 18.08.2018. The cross-examination of RW-1 could not be completed by 21.12.2018 and thus the petitioner again approached this Court in OMP (Misc)(Comm.) 02/2019 for a further extension of nine months. This Court vide order dated 07.01.2019 extended the time till 30.09.2019.
It is submitted by learned counsel for the petitioner that after completion of the evidence, arguments have commenced. Since the records are voluminous and technical issues are involved, some more time will be required for completion of the proceedings.
Mr. Puneet Taneja, Advocate appearing on behalf of the respondent, on instructions from the respondent, submits that he has no objection to the time being extended.
With the consent of the parties, time for completion of the proceedings and for passing of the Award is extended by a period of nine months from 30.09.2019.
The petition is allowed in the above terms.