UNION OF INDIA Vs. HINDUSTAN OIL EXPLORATION

JUDGEMENT

(1.) This is an application filed by the petitioner for condonation of delay of 409 days in filing the petition under Section 34 of the Arbitration and Conciliation Act, 1996 against the award dated 14 th May, 2011.

(2.) The main petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "Act') challenging the Award dated 14 th May, 2011 passed by the Arbitral Tribunal consisting of Hon'ble Mr. Justice K. Jagannatha Shetty, former Judge, Supreme Court of India (Presiding Arbitrator), Hon'ble Mr. Justice B.R. Naik, former Judge of the High Court of Bombay (Arbitrator) and Hon'ble Mr. Justice P.K. Bahri, former Judge, High Court of Delhi (Arbitrator) in the matter of Hindustan Oil Exploration Co. Ltd. and Mafatlal Industries Ltd. (Claimants therein) and Oil and Natural Gas Commission and Union of India (respondents therein).

(3.) The above petition has been filed after a delay of 433 days after expiry of the period within which the Award could be challenged under Section 34(3) of the Act. The petitioners have filed I.A. No.20014/2012 (hereinafter referred to as the "said application') in the above petition with a prayer for condonation of delay in filing the above petition.