Akn Developers Pvt. Ltd v. M/S Presmsons Southend

O R D E R %

07.11.2024

¶1This is a petition under Section 29A(4) & 29A(5) of the Arbitration & Conciliation Act, 1996 for extending the mandate of the Arbitral Tribunal for a period of one year in the arbitration proceedings which are going on between the parties before the Arbitral Tribunal.

¶2Material on record indicates that the Arbitral Tribunal was constituted on 02.05.2022. It is stated that the time period for making the award has come to an end on 23.01.2024 and therefore the Petitioner has approached this Court for extension of time for making the award. It is stated by the learned Counsel for the Petitioner that additional time of one year would be required for making the Arbitral Award.

¶3In view of the above, this Court is inclined to extend the mandate of the Arbitral Tribunal for a further period of one year so that the Award can be pronounced and no further extension of time would be required by the This is a digitally signed order. Tribunal.

¶4The petition is disposed of, along with the pending applications, if any.

SUBRAMONIUM PRASAD, J NOVEMBER 7, 2024 hsk

This is a digitally signed order.

* IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 864/2024 & I.A. 44316/2024 AKN DEVELOPERS PVT. LTD. .....Petitioner Through: Ms. Sunanda Tulsyan, Mr. Kashish Maheshwari and Mr. Rajesh Bansal, Advocates. versus M/S PRESMSONS SOUTHEND. .....Respondent Through: Mr. Nikhil Palli and Ms. Niyati Razdan, Advocates. CORAM: HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD