Itd Cementation India Limited vs Rail Vikas Nigam Limited
2019 Latest Caselaw 5347 Del

Citation : 2019 Latest Caselaw 5347 Del
Judgement Date : 1 November, 2019

Delhi High Court

Itd Cementation India Limited vs Rail Vikas Nigam Limited on 1 November, 2019

$~A-21
*    IN THE HIGH COURT OF DELHI AT NEW DELHI

%                                              Date of decision: 01.11.2019

+      O.M.P.(MISC.)(COMM.) 427/2019

       ITD CEMENTATION INDIA LIMITED           ..... Petitioner
                    Through: Mr. R. Sudhinder & Mr. Nikhil
                              Kumar Singh, Advocates
                    versus

    RAIL VIKAS NIGAM LIMITED                 ..... Respondent
                  Through: Mr. Abhishek Singh, Ms. Samridhi
                            Pal & Ms. Aashnaa Bhatia, Advocates
CORAM:
HON'BLE MS. JUSTICE JYOTI SINGH

JYOTI SINGH, J. (ORAL)

I.A. 15196/2019 (Exemption).

Exemption allowed subject to all just exceptions. Application stands disposed of.

O.M.P.(MISC.)(COMM.) 427/2019

1. Issue notice.

2. Mr. Abhishek Singh, Advocate, enters appearance on behalf of the respondent and accepts notice.

3. The present petition has been filed under Section 29A(4) & (5) of the Arbitration and Conciliation Act, 1996 ('Act') seeking extension of time for completion of the arbitral proceedings and passing of the Award.

4. Disputes and differences having arisen between the parties, the Arbitration Clause in the Contract Agreement dated 27.03.2014 was invoked. Vide order dated 02.04.2018, this Court directed for constitution of an Arbitral Tribunal, which entered upon reference on 30.04.2018.

5. Statutory period of twelve months under Section 29A(1) of the Act for making of the Award expired on 29.04.2019. By consent of the parties, time was extended by the Arbitral Tribunal by six months, which expired on 29.10.2019.

6. It is submitted by learned counsel for the petitioner that the matter is at the stage of final arguments and prays that the time be further extended by a period of one year.

7. Mr. Abhishek Singh, Advocate, appearing on behalf of the respondent, on instructions from the respondent, submits that he has no objection to the extension of time. He however submits that the extension should not be granted beyond 5 months.

8. Having heard learned counsels for the parties, I am inclined to extend the time for completion of proceedings and passing of Award by a period of six months from 30.10.2019.

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

JYOTI SINGH, J NOVEMBER 01, 2019 Rd/