MAHABIR PRASAD AGARWALA Vs. UNION OF INDIA

JUDGEMENT

(1.) This is an application filed by M/s Mahabir Prasad Agarwala, under Sec. 29A of the Arbitration and Conciliation Act, 1996, seeking extension of the mandate of the Arbitrator, which is due to expire on 30/5/2024. For the purpose of granting extension of time for the Arbitrator to make his award, one has to - at first - look at sub-sec. (4) of Sec. 29A of the Arbitration and Conciliation Act, 1996, which reads as follows:-

(2.) It is, therefore, evident that the Court has power to extend the time limit for an arbitral award to be made in terms of sub-sec. (4) of Sec. 29A of the Arbitration and Conciliation Act, 1996 (as quoted above). However, such extension of time can be granted only for sufficient cause and on such terms and conditions as may be imposed by the Court. This is clear from a plain reading of sub-sec. (5) of Sec. 29A of the Arbitration and Conciliation Act, 1996, which reads as follows:-

(3.) This Court is of the view that although the reasons which appear in the minutes of the 41st sitting held on 29/4/2024, before the learned Arbitrator reflects sufficient cause shown for the purpose of the Court granting extension of time for the learned Arbitrator to make an award in respect of Arbitration Petition No. 01 of 2022; in the facts of the case, three months from date will be sufficient time for the proceedings before the learned Arbitrator to be concluded and for making of the award.