AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
14 paragraphs · 231 wordsJyoti Singh, J
I.A. No. 13163/2019 (Exemption)
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P.(MISC.)(COMM.) 381/2019,
Issue notice.
Mr. Saket Sikri, learned counsel for the respondent, enters appearance and accepts notice.
This is a petition under Section 29A(4) & (5) of the Arbitration & Conciliation Act, 1996, ('the Act') seeking extension of time for completion of the arbitral proceedings and passing of the award.
The Arbitral Tribunal was constituted on 20.03.2018. Vide order dated 21.3.2018 the Tribunal passed the first procedural order indicating the schedule with respect to the proceedings.
Statement of claim was filed by the petitioner on 07.04.2018. On 12.5.2018, respondent filed its statement of defence and counter-claims. Rejoinder was filed on 13.6.2018 by the petitioner along with reply to the counter-claims. Thereafter, the evidence was led by the parties.
Statutory period of 12 months for passing the award expired on 19.3.2019. Parties extended the period by six months with mutual consent. The extended period had expired on 9.09.2019.
Parties jointly submit that the proceedings are at the stage of arguments. Mr. Sikri submits, on instructions, that he has no objection to the time being extended.
By consent of the parties, time for completion of proceedings and passing of award is extended for further period of 9 months.
The petition is allowed in the aforesaid terms.