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Judgment
Jyoti Singh, J
I.A. No. 2785/2020 (Exemption)
Allowed, subject to all just exceptions.
Application is disposed of.
O.M.P. (MISC.) 4/2020
This is a joint petition filed under Section 29A(4) & (5) of the Arbitration and Conciliation Act, 1996 (‘Act’) seeking extension of time for
completion of the arbitral proceedings and passing of the Award.
Issue notice.
Mr. Rajesh Ranjan accepts notice and submits on instructions from the respondent, that the respondent has no objection to the petition being
allowed and the time being extended.
The Arbitral Tribunal entered upon reference on 03.08.2018. Statutory period of twelve months under Section 29A(1) of the Act expired on
02.08.2019. Vide order dated 22.07.2019, the Tribunal extended the time by a period of six months with the consent of the parties. Extended period
expired on 02.02.2020.
Learned counsels for the parties submit that the proceedings are at the stage of claimant’s evidence and pray that the time be further extended
by a period of six months.
With the consent of the parties, time for completion of the proceedings and passing of the Award is extended by a period of six months with effect
from 03.02.2020.
Petition is allowed in the aforesaid terms.