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Judgment
10 paragraphs · 186 wordsJyoti Singh, J
This is a petition filed under Section 29 A (4) of the Arbitration and Conciliation Act, 1996 ('Act') for extension of time in making the Award.
The Arbitral Tribunal was constituted on 09.03.2018.
Statutory period of twelve months for making the Award expired on 08.03.2019.
By mutual consent of the parties, time was extended by a further period of six months which expired on 08.09.2019.
On 15.03.2019, the parties concluded their arguments and the Award was reserved by the Arbitral Tribunal.
It is the contention of the learned counsel for the petitioner that the Arbitral Tribunal had through its communication dated 07.09.2019(received by e-mail on 20.09.2019) had indicated that a further period of one month would be required for passing the Award.
Mr. Vivek Maragon Sharma, learned counsel appearing for the respondent, on instructions, submits that he has no objection to the time being extended.
With the consent of the parties, time for passing of the Award is extended by a period of six weeks from 08.09.2019.
The petition is allowed in above terms.