Allowed

Bestech Advisors Private Limited v. Orial Financialsolution Private Limited

Delhi HC7 Nov 2024O.M.P.(MISC.)(COMM.)/863/2024

Case brief

AI extract

What is this about?

In this matter, the Delhi High Court disposed of an application filed by Bestech Advisors Pvt. Ltd. under Section 29A(5) of the Arbitration and Conciliation Act, 1996, seeking an extension for concluding arbitration. The court extended the time limit until 30.04.2025, subject to conditions against unnecessary delays.

What did the court decide?

Time for completion of arbitral proceedings and making of the arbitral award extended till 30.04.2025.

Bestech Advisors Private Limited Vs Orial Financialsolution… — Arbitration | Delhi HC (2024)

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$~45

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- O.M.P.(MISC.)(COMM.) 863/2024

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BESTECH ADVISORS PRIVATE LIMITED .....Petitioner Through: Mr. Raghvendra M. Bajaj, Ms. Garima Bajaj, Ms. Renu H. Bajaj, Ms Shagun Agrawal and Mr. Zeeshan Ahmed, Advs.

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versus

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ORIAL FINANCIALSOLUTION PRIVATE LIMITED

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.....Respondent Through: Mr. D.V. Khatri and Mr. Harshad Gupta, Advs.

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CORAM:

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HON'BLE MR. JUSTICE SACHIN DATTA O R D E R % 07.11.2024

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IA No.44301/2024 (Exemption)

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Allowed, subject to all just exceptions.

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Application stands disposed of.

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O.M.P.(MISC.)(COMM.) 863/2024

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The present petition under Section 29A (5) of the Arbitration and Conciliation Act, 1996 seeks extension of time for completion of arbitral proceedings and making of the arbitral award.

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The learned Sole Arbitrator was appointed by this Court vide order dated 08.04.2022 in OMP (I) (COMM) 67/2022. The arbitration proceedings are stated to be at an advanced stage; it is submitted that the recording of claimant’s evidence is largely complete and only one witness remains to be examined partly.

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This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 03/07/2025 at 04:26:09

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Learned counsel for the respondent, while not opposing the request for extension of time, submits that the petitioner has been delaying the matter before the learned Sole Arbitrator. The same is, however, controverted by learned counsel for the petitioner.

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Considering the averments made in the petition and submissions of respective counsel, the time period for completion of arbitral proceedings and making of the arbitral award is extended till 30.04.2025.

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Respective counsel for the parties undertake that they will not take any unnecessary adjournment before the learned Sole Arbitrator and will cooperate for expediting the proceedings.

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The present petition stands allowed in the above terms.

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SACHIN DATTA, J

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NOVEMBER 7, 2024/ cl

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Bestech Advisors Private Limited v. Orial Financialsolution Private Limited

Case brief

What is this about?

What did the court decide?

Bestech Advisors Private Limited v. Orial Financialsolution Private Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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