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Judgment
Rajiv Shakdher, J
I.A. 15066/2018
Allowed, subject to just exceptions.
O.M.P.(MISC.)(COMM.) 326/2018
Issue notice. Mr. Nayar accepts notice on behalf of the respondent.
Learned counsel says that he does not wish to file a reply as he does not oppose the prayer made in the application for extension of time for
concluding the arbitration proceedings.
The record shows that after nominee Arbitrators were appointed by the parties herein, the nominee Arbitrators in turn vide letter dated 29.3.2017
appointed the Presiding Arbitrator.
The record also shows that on 8.9.2017 the Arbitral Tribunal extended, with mutual consent of the parties, the time for concluding the arbitration
proceedings by a further period of six (6) months.
I am informed by counsel for the parties that the arguments have been concluded in the matter. However, since the record is voluminous a
minimum of six (6) months are required to render the award.
Having regard to the time and money spent by the parties herein, I am inclined to grant further extension of six (6) months for conclusion of the
arbitration proceedings and pronouncement of award.
The period of six (6) months will commence from 29.09.2018.
9 The petition is disposed of in the aforesaid terms.