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Judgment
23 paragraphs · 274 wordsJyoti Singh, J
I.A. No. 2932/2020 (Exemption)
Allowed, subject to all just exceptions.
Application is disposed of.
O.M.P.(MISC.)(COMM.) 84/2020
This is a petition filed under Section 29A(4) of the Arbitration and Conciliation Act, 1996 (‘Act’) seeking extension of time for completion of
the arbitral proceedings and passing of the Award.
Issue notice.
Mr. Rakesh Choudhary enters appearance and accepts notice. He submits on instructions from the respondent, that the respondent has no objection
to the petition being allowed and the time being extended.
Learned counsel for the parties draw the attention of this Court to an order dated 07.02.2020 passed by the Tribunal, wherein the consent of the
parties for seeking extension of time was recorded.
Pursuant to a contract entered into between the parties on 15.05.2012, certain disputes had arisen. The Tribunal was constituted to adjudicate
disputes between the parties.
The Arbitral Tribunal entered upon reference on 13.08.2018.
The first procedural hearing was held on 31.08.2018.
Statutory period of twelve months under Section 29A(1) of the Act expired on 13.08.2019. Vide order dated 30.07.2019, the Tribunal extended the
time by a period of six months, with the consent of the parties. Extended period expired on 13.02.2020.
Learned counsels for the parties submit that the proceedings are at the stage of final arguments and pray that the time be further extended by a
period of six months.
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 with effect
from 14.02.2020.
Petition is allowed in the aforesaid terms.