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Judgment
Jyoti Singh, J
I.A. 18406/2019 (Exemption).
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P.(MISC.)(COMM.) 542/2019
This is a joint petition filed under Section 29A(5) of the Arbitration and Conciliation Act, 1996 ('Act') seeking extension of time for completion of the arbitral proceedings and passing of the Award.
The Arbitral Tribunal entered upon reference on 16.09.2017. Statutory period of twelve months under Section 29A(1) of the Act expired on 15.09.2018. By consent of the parties, time was extended by six months, which expired on 16th March, 2019.
The petitioner moved this Court by filing an OMP (Misc.)(Comm.) No. 128/2019 and vide order dated 04.04.2019, time was extended by a further period of six months which would expire on 31.12.2019.
Learned counsels for the parties submit that the proceedings are at the stage of rejoinder arguments of the claimant and pray that the time be further extended for a period of six months.
With the consent of the parties, time for completion of the proceedings and passing of the award is extended by a period of six months from 01.01.2020.
The petition is allowed in the aforesaid terms.