The petitioner has sought a declaration that as per the provisions of the arbitration agreement dated 13.12.1996, the mandate of the learned arbitrator, Respondent no.2 stood terminated as a result of efflux of time and that the learned arbitrator had become functus officio.

2. Respondent no.2 is the arbitrator and therefore only a formal party. The reference in this judgement to the Respondent will therefore be to Respondent no. 1.

3. That the time for making the award stipulated in the arbitration agreement has expired is admitted. The question is whether the petitioner had waived the condition stipulating the time within which the award was to be made. The determination of this question in turn raises the question as to when the arbitrator entered upon the reference for that is the starting point mentioned in the agreement for computing the period within which the award is to be made. Mr. Bharucha, the learned senior counsel appearing on behalf of the Respondent submitted that the arbitrator entered upon the reference on 19.4.2002. In the alternative he submitted that the arbitrator entered upon the reference on 28.5.2002. In the further alternative he submitted