Allowed

Punjab National Bank v. Axis Bank Ltd.

Delhi HC9 May 2025O.M.P.(MISC.)(COMM.)/377/2025

Case brief

AI extract

What is this about?

Joint petition under Section 29A(4) and (5) of the Arbitration and Conciliation Act, 1996 seeking extension of the arbitrator's mandate. The court found sufficient cause for the delay explained, extended the mandate by six months and regularised the intervening period.

What did the court decide?

Mandate of Arbitral Tribunal extended by 6 months; period from 30.09.2024 till date regularised.

Punjab National Bank Vs Axis Bank Ltd. — Arbitration | Delhi HC (2025)

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$~89

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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- O.M.P.(MISC.)(COMM.) 377/2025 PUNJAB NATIONAL BANK .....Petitioner Through: versus

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AXIS BANK LTD. .....Respondent Through: Ms. Diya Kapur, Sr. Adv. with Mr. Siddharth Nath, Mr. Asjad Hussain, Mr. Aditya Ladha, Mr. Anunay Chowdhary, Advs.

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CORAM: HON'BLE MR. JUSTICE JASMEET SINGH O R D E R % 09.05.2025

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I.A. 11771/2025

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Exemption is granted subject to all just exceptions.

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The applicant(s) shall file legible and clearer copies of exempted documents, compliant with practice rules before the next date of hearing.

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The application is disposed of.

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O.M.P.(MISC.)(COMM.) 377/2025

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This is a petition filed under Section 29A(4) and (5) of the Arbitration and Conciliation Act, 1996 read with Section 7 of the Commercial Courts Act, 2015, filed on behalf of both the petitioner and the respondent, seeking extension of the mandate of the Arbitral Tribunal by a period of 6 months for making and publishing the Arbitral Award.

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It is stated that the delay occurred on account of several connected issues.

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For the reasons noted above, I am of the view that sufficient cause has been explained for the delay.

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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 01/07/2025 at 16:30:05

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The petition is allowed and the mandate of the Arbitral Tribunal is extended by a period of 6 months from today.

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The period from 30.09.2024 till today stands regularised.

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The petition is disposed of accordingly.

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JASMEET SINGH, J

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MAY 9, 2025/sp

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Click here to check corrigendum, if any

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Punjab National Bank v. Axis Bank Ltd.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Axis Bank Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

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