AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
11 paragraphs · 209 wordsJyoti Singh, J
I.A. No. 12544/2019 (Exemption)
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P. (MISC.) 31/2019
This is a joint petition filed under Section 29A(4) of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as 'the Act').
Disputes and differences having arisen between the parties, the arbitration proceedings commenced on 03.06.2017. After expiry of statutory period of 12 months, vide order dated 10.12.2018 passed in OMP (Misc) No.25/2018, this Court granted six months' extension for concluding the arbitration proceedings from 24.10.2018. Thereafter, vide order dated 26.4.2019 passed in OMP (Misc) No.18/2019 time was further extended for a period of four months commencing from 24.04.2019. The extended time has expired on 24.08.2019.
The parties are ad idem that the matter is at the stage of final arguments and thus, a prayer is made to extend the time for conclusion of the proceedings.
Learned counsel for the parties have jointly preferred the present petition, praying for extension of time.
For the reasons stated in the petition, the time for completion of arbitration proceedings and making the award is extended for a further period of four months with effect from 24.08.2019.
The petition is disposed of in the aforesaid terms.