(1.) Heard Shri Mahabir Yadav, learned counsel for the applicant-claimant and Shri J. Nagar, learned Senior Counsel assisted by Shri Deepakh Kapoor, for the respondent-Life Insurance Corporation of India (LIC).
(2.) At present, two applications are pending consideration. The first is Application No. 2 of 2019 filed by the LIC, referable to Section 14(1)(a) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act'), seeking termination of the mandate of the learned Arbitrator appointed by this Court by order dated 10.07.2017. The other is Application No.1 of 2019 filed by the applicant, seeking extension of the time to the learned Arbitrator to frame his award. It is referable to Section 29A(5) of the Act.
(3.) The facts that are common to both applications, may be noted first. On 10.07.2017, this Court nominated the learned Arbitrator on the application filed by the applicant under Section 11 of the Act. It is not in dispute that the learned Arbitrator entered reference on 30.07.2017, whereafter a claim petition came to be filed by the applicant on 31.07.2017. The respondent LIC also filed a reply/objection on 04.01.2018. Since the time period of 12 months under Section 29A (1) of the Act was coming to an end, the learned Arbitrator appears to have passed an order on 01.06.2018 extending the mandate by six months. Perusal of that order, a copy whereof is annexed as Annexure-3 with Application No.1 of 2019, reveals that the order was passed with the consent of the parties as contemplated under Section 29A(3) of the Act. Thereafter, it appears, the LIC filed an application seeking to delete the last paragraph in the order dated 01.06.2018 (passed by the learned Arbitrator). That paragraph read as below: