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Judgment
12 paragraphs · 255 wordsJyoti Singh, J
I.A. No. 11521/2019 (Exemption)
Exemption allowed subject to all just exceptions.
Application stands disposed of.
O.M.P.(MISC.)(COMM.) No. 329/2019
Issue notice of the petition to the respondents.
Mr. Nilava Bandhopadhyay, Advocate accepts notice.
This petition has been filed under Section 29A(4) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the Act), seeking extension of time for the sole Arbitrator to pass the Award. The time period of 12 months as sought under Section 29A(1) of the Act had expired on 14.02.2019 and by consent of the parties the time was extended under Section 29A(3) of the Act for a further period of 6 months. Extended period of six month has expired on 14.08.2019.
Learned counsel for the petitioner submits that the respondent's evidence has concluded on 29.05.2019 and the proceedings before the sole Arbitrator are at the stage of final arguments. He, thus, prays that time may be further extended by a reasonable period, to enable the sole Arbitrator to pass the Award, after the arguments are complete.
Learned counsel for the respondent submits that the respondent has no objection if the time for passing the Award is further extended.
Having perused the contents of the petition and the no objection expressed by the respondent, the petition is allowed and the time for making the Award is extended by a further period of 8 months with effect from 15.08.2019.
The petition is allowed in the above terms with no orders as to costs.