(1.) By way of instant petition filed under S.29(A)(5) of the Arbitration and Conciliation Act, 1996 (hereinafter 'Act'), prayer has been made on behalf of the petitioner to extend the time to conclude arbitral proceedings.
(2.) No reply is intended to be filed on behalf of the respondents. Learned counsel for the respondent fairly state that the prayer made in the instant petition can be allowed.
(3.) Having heard learned counsel for the parties and perused the material available on record, this court finds that the land and building situate over Khewat No. 04, Khatauni No. 333, Khasra No. 779/3871 situate at Mohal Chamukha Hadbast No. 41, Tehsil Sundernagar, District Mandi, came to be acquired by respondent No.1 for construction/widening of NH 21, but since the petitioner was not satisfied with the amount of compensation determined by respondent No.1, he preferred a petition under S. 3(G) 5 o 7 of the National Highways Act, 1956 before learned Divisional Commissioner, Mandi, praying therein for enhancement of the compensation awarded by respondent No.1 (Annexure P-1). Pursuant to notices issued in the petition, respondents filed reply on 22/7/2019 and matter was fixed for further proceedings, (Annexure P-2). Since the arbitral tribunal has been not able to conclude the proceedings within the stipulated period of 12 months, petitioner has approached this Court in the instant proceedings for extension of time.