INDIABULLS INFRAESTATE LTD. Vs. IMAGINE REALTY PVT. LTD.

JUDGEMENT

(1.) These Petitions are applications under Sec. 29-A of the Arbitration and Conciliation Act, 1996 ("the Act"), filed by the Petitioner, Indiabulls Infraestate Ltd. ("Indiabulls") seeking an extension of mandate of the Arbitral Tribunal.

(2.) In both the Petitions, Indiabulls has sought extension by one year, of the mandate of the Learned Arbitral Tribunal, which expired on August 31, 2023. The relevant arbitral proceedings covered by Arbitration Petition No. 33 of 2025 involve the Respondent, Bliss Habitat Pvt. Ltd. ("Bliss"), as the Claimant. In Arbitration Petition No.39 of 2025, the Respondent, Imagine Realty Pvt. Ltd. ("Imagine"), is the Claimant. The arbitral proceedings are being conducted together as one composite matter.

(3.) Mr. Chetan Kapadia, Learned Senior Counsel on behalf of Bliss and Imagine would submit that the Learned Sole Arbitrator manning the Learned Arbitral Tribunal should be substituted in the course of disposal of these Petitions. For the reasons recorded herein, I am unable to agree with his request.