A.A.Development Capital India ... vs Barflex Polyfilms Private ...
2017 Latest Caselaw 3951 Del

$~32
* IN THE HIGH COURT OF DELHI AT NEW DELHI

%                                   Judgment delivered on: 04.08.2017

+      O.M.P.(MISC.)(COMM.) 19/2017
A.A.DEVELOPMENT CAPITAL INDIA
FUND LLC                                              ..... Decree Holder

                           versus

BARFLEX POLYFILMS PRIVATE
LIMITED & ORS.                                     ..... Judgment Debtors
Advocates who appeared in this case:
For the Decree Holder    : Mr Abhijeet Sinha, Mr Siddharth Naidu and
                           Mr Anirudh Bhat
For the Judgment Debtors : Ms Pooja M.Saigal

CORAM:-
HON'BLE MR JUSTICE SANJEEV SACHDEVA

                             JUDGMENT

04.08.2017

SANJEEV SACHDEVA, J. (ORAL)

1. This petition under Section 29A(3) of the Arbitration & Conciliation Act, 1996 seeks extension of time for making the arbitral award.

2. Learned counsel for the parties submit that the proceedings before the Arbitral Tribunal are continuing. It is contended that there is no delay in the proceedings for any reason whatsoever, inter alia, attributable to the Arbitral Tribunal.

3. Learned counsels submit that in view of the nature of the dispute, parties had to lead oral evidence and the final arguments of the parties have been heard and pronouncement of the award has been reserved.

4. It is submitted that the time for making the award expired on 26.07.2017.

5. The last date before the Arbitral Tribunal was 15.07.2017 when arguments were heard and judgment was reserved. It is submitted that the Arbitral Tribunal was of the view that a three months extension would be required for making of the award.

6. In view of the above, the petition is allowed. The time for making the award is extended from 26.07.2017 to 31.10.2017.

7. The petition is disposed of in the above terms.

8. Dasti under signatures of the Court Master.

SANJEEV SACHDEVA, J AUGUST 04, 2017 'Sn'