High Court allowed an application filed under Section 29A(5) of the Arbitration Act, 1996, to extend the mandate of the arbitrator. Considering the arbitrator's letter, the court extended six months to pass the final award before disposing of the misc. application.
Extended time of six months to pass the final award.
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HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Civil Miscellaneous Application No.95/2023
M/s Shoolin Finance, Having Its Registered Office At 103 105 Krishna Square, Jaipur-302016, Through Its Partner-Mr. Ritesh Dalmia.
----Petitioner
Versus
----Respondents
For Petitioner(s) : Ms.Priyanka Tiwari, Adv.
HON'BLE MR. JUSTICE ASHOK KUMAR GAUR Order
02/06/2023
The matter comes up on an application filed under Section 29A (5) of the Arbitration and Conciliation Act, 1996 (hereafter ‘the Act of 1996’) seeking extension of mandate of arbitration proceedings.
This Court finds that the learned Arbitrator has also sent a letter dated 24.05.2023 to extend the time to conclude the arbitration proceedings.
This Court, after going through the contents of the application and considering the contents of letter of learned Arbitrator, deems it proper to exercise its power under Section 29A (5) of the Act of 1996 and further extends the time of six months to pass the final award.
Accordingly, the present misc. application stands disposed of.
(ASHOK KUMAR GAUR), J
Himanshu Soni/C-1
2 issues framed by the court
Whether the High Court should exercise its power to extend the time limit for passing the final award in ongoing arbitration proceedings.
What extension of time should be granted for the arbitration proceedings to conclude.
1 provisions across 1 enactments
M/s Shoolin Finance
Mr. Rahul Taluka
Mr. Dwarka Das Taluka
ASHOK KUMAR GAUR
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
