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Judgment
11 paragraphs · 283 wordsJyoti Singh, J
O.M.P.(MISC.)(COMM.) 292/2019
Present petition has been filed under Section 29A of the Arbitration and Conciliation Act, 1996 ('Act') seeking extension of time for completion of the arbitral proceedings and passing of the Award.
The Arbitrator had entered upon reference on 10th November, 2017. Statutory period of twelve months under Section 29A(1) of the Act expired on 9th November, 2018. By mutual consent of the parties, time was extended by six months. The extended period expired on 9th May, 2019.
Learned counsel for the petitioner submits that vide order dated 11th May, 2019 the learned Arbitrator had requested the parties to approach the Court for seeking extension of time.
Learned counsel for the petitioner submits that the matter is at the stage of evidence of the respondent and prays that the time be further extended for a period of six months.
Mr. Sandeep Goel, Director of the Respondent Company, who is present in Court, submits that he has no objection to the time being extended.
Mr. Sandeep Goel submits that the petitioner is taking unnecessary adjournments in the matter and therefore he should be directed that no unnecessary adjournment would be taken. He further submits that three witnesses remain to be examined by the respondent.
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 with effect from today i.e. 20th November, 2019. Needless to state that no unnecessary adjournments will be taken by either party.
The period between 10th May, 2019 till 19th November, 2019 is hereby regularised
The petition is allowed in the above terms.