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Judgment
Jyoti Singh, J
I.A. No. 2837/2020 (Exemption)
Allowed, subject to all just exceptions.
Application is disposed of.
O.M.P.(MISC.)(COMM.) 82/2020
This is a joint petition filed under Section 29A of the Arbitration and Conciliation Act, 1996 (‘Act’) seeking extension of time for completion
of the arbitral proceedings and passing of the Award.
Pursuant to the disputes having arisen between the parties with respect to an Agreement dated 27.07.2017, the Arbitral Tribunal was constituted.
The Arbitral Tribunal entered upon reference on 25.03.2018. Statutory period of twelve months under Section 29A(1) of the Act expired on
24.03.2019. On 05.02.2019, by the consent of the parties, time was extended by a period of six months, w.e.f. 25.03.2019, which expired on
24.09.2019.
A joint petition was filed under Section 29A(5) being OMP (Misc.)(Comm.) No. 324/2019 and vide order dated 19.08.2019, time was extended by a
further period of six months w.e.f. 25.09.2019 which would expire on 25.03.2020.
Learned counsels for the parties submit that the proceedings are at the stage of arguments of the respondent and pray that time be further extended
for a period of six months.
Learned counsels for the parties also draw the attention of this Court to an order dated 21.01.2020 passed by Arbitral Tribunal seeking time for
completion of proceedings and passing of the Award till 31.10.2020.
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
26.03.2020.
The petition is allowed in the aforesaid terms.