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Judgment
15 paragraphs · 262 wordsJyoti Singh, J
I.A. 13714/2019 (Exemption).
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P.(MISC.)(COMM.) 392/2019
Issue notice.
Mr. Ratan K. Singh, Advocate, enters appearance on behalf of the respondent and accepts notice.
The present petition has been filed under Section 29A(4) 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 Contract Agreement dated 25.09.2011 was invoked. Vide letter dated 28.08.2017, the petitioner consented to appointment of a Sole Arbitrator. Arbitration Proceedings commenced 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. The extended period expired on 15.3.2019.
The petitioner moved this Court by filing an OMP (Misc.)(Comm.) No. 88/2019 and vide order dated 08.03.2019, time was extended till 16.09.2019.
Learned counsel for the petitioner submits that the matter is at the stage of cross-examination of respondent's witnesses and prays that the time be further extended for a period of six months.
Mr. Ratan K. Singh, 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 passing of the award is extended by a period of six months from 16.09.2019.
The petition is allowed in the above terms.