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Judgment
14 paragraphs · 226 wordsJyoti Singh, J
I.A. 14685/2019 (Exemption).
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P.(MISC.)(COMM.) 419/2019
Issue notice.
Mr. Vikrant Pachnanda, Advocate, enters appearance on behalf of the respondent and accepts notice.
This is a petition been filed under Section 29A (5) of the Arbitration and Conciliation Act, 1996 ('Act') seeking extension of time for passing of the Award.
Disputes and differences having arisen between the parties, the Arbitration Clause was invoked. Vide order dated 27.02.2018 passed by this Court, a Sole Arbitrator was appointed. The learned Arbitrator entered upon reference on 07.03.2018.
Statutory period of twelve months under Section 29A(1) of the Act expired on 06.03.2019. On 01.04.2019, by mutual consent of the parties, time was extended by six months as per Section 29A(3) of the Act, which expired on 06.09.2019.
Learned counsel for the petitioner submits that the final arguments between the parties have been heard and the case has been reserved for making the Award.
Mr. Vikrant Pachnanda, Advocate appearing on behalf of the respondent, on instructions from the respondent, 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 months from 06.09.2019.
The petition is allowed in the above terms.