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Judgment
Suresh Kumar Kait, J
The present petition has been filed jointly by the parties under Sections 29A (4) and (5) of the Arbitration and Conciliation Act, 1996 seeking extension of mandate of the Arbitral Tribunal for an additional period of three months from 30.11.2021 till 28.02.2022 for passing of Arbitral Award.
As per averments made in the present petition, vide order dated 11.10.2018 passed by this Court in Arb. P. 525/2018, Sole Arbitrator was appointed. Mandate of Arbitral Tribunal got expired on 01.12.2020 and thereafter, vide order dated 23.12.2020 passed by this Court in OMP (Misc.) (Comm.) 303/2020 time period for passing the Arbitral Award was extended till 31.05.2021. Subsequently, again vide order dated 02.06.2021 in OMP (Misc.) (Comm.) 105/2021,this Court extended the time for passing Arbitral Award till 30.11.2021.
Learned counsel for parties jointly submit that they have filed their respective written submissions before the learned Arbitral Tribunal on 31.08.2021 and are awaiting passing of Arbitral Award and pray for further extension of mandate of the Arbitral Tribunal as it had expired on 30.11.2021.
In view of the reasons stated in the present petition, submissions made by learned counsel for parties and in the interest of justice, I hereby extend the mandate of Arbitral Tribunal for a period of three months, i.e. from 30.11.2021 till 28.02.2022, for passing of the Arbitral Award.
Accordingly, the present petition stands disposed of.