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Judgment
Jyoti Singh, J
I.A. No. 16605/2019 (for exemption)
Exemption allowed, subject to all just exceptions.
The application stands disposed of.
O.M.P.(MISC.)(COMM.) 480/2019
This is a petition filed under Section 29A(5) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') seeking extension of time for completion of proceedings and passing of the Award, by the Arbitral Tribunal.
Issue notice.
Learned counsel for the respondent enters appearance and accepts notice.
On 06.02.2018, the Arbitral Tribunal entered upon reference.
Statutory period of twelve months under Section 29A(1) of the Act expired on 05.02.2019.
Learned counsel for the petitioner submits that pleadings before the Arbitral Tribunal are complete and the proceedings are at the stage of final arguments.
Learned counsel for the respondent, on instructions, submits that the respondent has no objection to the time being extended.
With the consent of the parties, the time is hereby extended by a period of six months with effect from 27.11.2019.
Period between 06.02.2019 and 26.11.2019 is hereby regularized.
With the aforesaid directions, the petition is disposed of.