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Judgment
Jyoti Singh, J
I.A No. 13982/2019 (Exemption)
Allowed, subject to all just exceptions.
The application stands disposed of.
O.M.P. (MISC.) (COMM.) 400/2019
Issue notice.
Mr. Manish Paliwal, Advocate enters appearance on behalf of respondent and accepts notice.
This is a petition under Section 29A(4) of the Arbitration & Conciliation Act, 1996, ('the Act') seeking extension of time for completion of the arbitral proceedings and passing of Award.
Disputes and differences having arisen between the parties, the Facilitation Council under the Micro, Small and Medium Enterprises Development Act, 2006 referred the matter to Delhi International Arbitration Centre ('DIAC') for adjudication of the disputes by invoking its power under Section 18(3) of the said Act.
Vide letter dated 23.03.2018, Sole arbitrator was appointed by the DIAC. Arbitration Proceedings commenced on 24.04.2018.
Statutory period of 12 months expired on 22.03.2019. The Arbitrator extended the period by six months w.e.f. 23.03.2019, by mutual consent of the parties. The extended period expires on 22.09.2019.
Learned counsel for the petitioner submits that the proceedings are at the stage of evidence of the respondent.
Learned counsel appearing for the respondent, on instructions, submits that he has no objection to the time being extended.
For the reasons stated in the petition, the time for completion of proceedings and passing of the award is extended by seven months w.e.f. 23.09.2019.
The petition is allowed in the aforesaid terms.