Petition seeking extension of the arbitral tribunal's expired mandate in a bank dispute. Respondent raised no objection; court extended the mandate till 30 September 2024.
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$~37
THE SOUTH INDIAN BANK LTD. .....Petitioner Through: Mr. Pradyuman Sewar, Adv.
versus
TRANSSTROY TRICHY KARAIKUDI TOLLWAYS PVT. LTD. & ANR. .....Respondents Through: Mr. Suvir Sharma, Ms. Anushka Nawar and Mr. Shiv Azad Sharma, Advs. for Respondent 2
CORAM: HON'BLE MR. JUSTICE C.HARI SHANKAR
JUDGMENT (ORAL) % 05.07.2024
O.M.P.(MISC.)(COMM.) 492/2024
1. This petition under Section 29A(4) of the Arbitration and Conciliation Act 1996, seeks extension of the mandate of the Arbitral Tribunal presently in seisin of the disputes between the parties. The mandate of the Arbitral Tribunal is stated to have expired on 30 June 2024. Extension of the mandate till 30 September 2024 is sought.
2. Learned Counsel for Respondent 2 has no objection to the prayer.
3. Accordingly, the mandate of the learned Arbitral Tribunal shall stand extended till 30 September 2024.
Signature Not Verified
Signature Not Verified
Page 1 of 2 Digitally Signed By:CHANDRASHEKHARAN HARI SHANKAR Signing Date: 08.0 7.2024 17:56:51
Digitally Signed By:AJITO.M.P. (Misc) (Comm) 492/2024 KUMAR Signing Da te:0 8.07.2024 17:57:51
4. The petition is disposed of in the aforesaid terms.
IA 32370/2024 (exemption)
5. This application does not survive for consideration and stands disposed of.
C.HARI SHANKAR, J
JULY 5, 2024 rb
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Signature Not Verified
Signature Not Verified
Page 2 of 2 Digitally Signed By:CHANDRASHEKHARAN HARI SHANKAR Signing Date: 08.0 7.2024 17:56:51
Digitally Signed By:AJITO.M.P. (Misc) (Comm) 492/2024 KUMAR Signing Da te:0 8.07.2024 17:57:51
1 issue framed by the court
Whether the mandate of the Arbitral Tribunal, stated to have expired on 30 June 2024, should be extended under Section 29A(4).
1 provisions across 1 enactments
The South Indian Bank Ltd.
Transstroy Trichy Karaikudi Tollways Pvt. Ltd.
C.HARI SHANKAR
As recorded by the court registry
A miscellaneous application in an arbitration matter, commonly seeking extension of the arbitral tribunal's mandate under Section 29A.
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