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Judgment
Jyoti Singh, J
I.A. 17585/2019 (Exemption)
Allowed, subject to all just exceptions.
Application is disposed of.
O.M.P.(MISC.)(COMM.) 511/2019
Issue notice.
Mr. Siddhant Goel, Advocate, enters appearance on behalf of the respondent and accepts notice.
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.
Disputes and differences having arisen between the parties, the Arbitration Clause in the Agreement was invoked.
The Arbitral Tribunal entered upon reference on 11.07.2018.
Statutory period of twelve months under Section 29A(1) of the Act expired on 10.07.2019. By consent of the parties, time was extended by six months. The extended period is expiring on 10.01.2020.
Learned counsel for the petitioner submits that in the proceedings held before the Arbitral Tribunal on 26.11.2019, respondent had agreed to extension of time for completion of proceedings. The said order is on record of this Court.
Learned counsel for the petitioner submits that the matter is at the stage of completion of the evidence of the respondent.
Learned counsel for 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 passing of the award is extended by a period of 8 months from 11.01.2020.
The petition is allowed in the aforesaid terms.