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Judgment
Jyoti Singh, J
The present petition has been filed under Section 29A(4) and (5) of the Arbitration and Conciliation Act, 1996 ('the Act') seeking extension of time for completion of the arbitral proceedings and passing of the Award.
Disputes and differences having arisen between the parties the arbitration clause in the Agreement dated 1.4.2014 was invoked. Sole Arbitrator was appointed by this Court vide order dated 17.11.2017.
Statutory period of twelve months as mandated under Section 29A(1) of the Act expired and by consent of the parties the same was extended by six months. The extended period expired on 16.5.2019.
Learned counsel for the petitioner submits that the proceedings are at the stage of claimant's evidence and extension of time is required for completing the arbitral proceedings.
Learned counsel for the respondent submits that he has no objection to the extension of time, but he disputes and denies the allegations made in the body of the petition, against the respondent.
I, accordingly, extend the time by a period of one year from 17.5.2019, for completion of the arbitral proceedings and passing of the Award.
The allegations made by the respondent in the present petition will not affect the adjudication of his defence in the arbitration proceedings.
The petition is disposed of in the above terms.