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Judgment
SACHIN DATTA, J. (ORAL)
The present petition filed under Section 29A (4) of the Arbitration and Conciliation Act, 1996 (hereinafter referred as “the A&C Act”) seeks extension of time for completion of the arbitral proceedings and making of the Arbitral Award.
It is pointed out that a three-member Arbitral Tribunal had earlier been constituted to adjudicate the disputes between the parties. However, a petition under Sections 14 and 15 of the A&C Act came to be filed by the petitioner/claimant, being OMP (T) (COMM.) 67/2019. Vide order dated 02.12.2021 in the said petition, this Court appointed a Sole Arbitrator to adjudicate the disputes between the parties. The said order also directed that the newly appointed Sole Arbitrator shall resume the proceedings from the stage at which the matter stood before the erstwhile Arbitral Tribunal.
The mandate of the Arbitral Tribunal on previous occasion was extended by 6 months in O.M.P. (MISC.) (COMM.) 262/2024 by this Court vide order dated 02.04.2024.
The learned counsel for the petitioner submitted that the arbitration proceedings are at an advanced stage. It is stated that given the nature of the matter, an adequate extension of time be granted to complete the arbitral proceedings and make the Arbitral Award.
The present petition is not opposed by the learned counsel for the respondent.
Accordingly, with the consent of the parties, the time period for completion of arbitral proceedings and making of the Arbitral Award is extended till 30.11.2025.
The present petition is disposed of in the above terms.