Srei Equipment Finance Limited vs Yarico Agencies Private Limited
2026 Latest Caselaw 1507 Cal/2

Calcutta High Court

Srei Equipment Finance Limited vs Yarico Agencies Private Limited on 27 February, 2026

     ORDER                                                         OCD - 5
                       IN THE HIGH COURT AT CALCUTTA
                           COMMERCIAL DIVISION
                               ORIGINAL SIDE

                              AP-COM/149/2026
                       SREI EQUIPMENT FINANCE LIMITED
                                    VS
                      YARICO AGENCIES PRIVATE LIMITED

BEFORE
HON'BLE JUSTICE GAURANG KANTH
Date: February 27, 2026.
                                                                        Appearance:-
                                                          Mr. Swatarup Banerjee, Adv.
                                                             Mr. Shaunak Ghosh, Adv.
                                                                Mr. Rajib Mullick, Adv.
                                                           Mr. Biswaroop Ghosh, Adv.
                                                                       ...for petitioner.


    The Court:- Affidavit of service is taken on record. Despite service, none

appears on behalf of the respondents.

The petitioner has preferred the present petition under Section 29A of the

Arbitration and Conciliation Act, 1996, seeking extension of the mandate of the

arbitral tribunal for conclusion of the arbitral proceedings and publication of

the arbitral award.

Mr. Banerjee, learned counsel for the petitioner submits that this Court

vide order dated 03.09.2024 had appointed a learned arbitrator to adjudicate

the disputes between the parties. The arbitral tribunal, vide order dated

16.05.2025, allowed the application for proceeding ex-parte against the

respondent. The statement of claim was filed on 16.01.2025. Since the matter

is proceeding ex-parte, the mandate of the arbitral tribunal expired on

16.01.2026. The tribunal has conducted more than 8 sittings. Learned

counsel for the petitioner further states that the fees of the learned sole

arbitrator have been paid.

Upon consideration of the submissions of both the parties and the

materials placed on record, this Court is satisfied that there has been no

undue or unwarranted delay on the part of the learned sole arbitrator in

conducting the arbitral proceedings. Having regard to the advanced stage of

the proceedings and in the interest of justice, the mandate of the learned sole

arbitrator is extended for a further period of eight months from today.

The learned sole arbitrator is requested to make all reasonable

endeavours to conclude the arbitral proceedings and publish the arbitral award

within the extended time period.

With the above directions, the present petition stands disposed of.

(GAURANG KANTH, J.)

R. D. Barua