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Judgment
TUSHAR RAO GEDELA, J : (ORAL)
This petition is filed under Section 29(4) and (5) of the Arbitration and Conciliation Act, 1996, seeking extension of time of the mandate of the arbitral tribunal.
It is stated that on account of the dispute which had arisen, this Court vide the order dated 15.03.2021, in arbitration petition bearing ARB. P. 644/2020, had appointed sole arbitrator for adjudication of the disputes.
It is stated that the proceedings had continued with the parties seeking extension from this Court from time to time. It is stated that the last extension which was granted by this Court culminated on 30.03.2026. It is stated that as on the date when the extended time period had completed, the parties had addressed final arguments as also submitted their written submissions and only the award was required to be passed.
Since the records are voluminous, it may require some substantial time for the learned sole arbitrator to pass the award.
Accordingly, both the parties are ad idem that an extension of nine months may be required with effect from 30.03.2026 to enable the learned sole arbitrator to pass the award.
Accordingly, in view of the fact that both the parties are ad idem, the mandate of the arbitral tribunal is extended for a period of nine months with effect from 31.03.2026.
The petition is disposed of in the above terms. Pending application also stands disposed of.