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C. HARI SHANKAR
Prashanth Projects P Ltd – Appellant
Versus
Indian Oil Corporation Ltd – Respondent
JUDGMENT
C. Hari Shankar, J. - I.A. 17223/2021 (Section 151 CPC)
1. Allowed, subject to all just exceptions.
2. The application stands disposed of.
O.M.P.(MISC.)(COMM.) 184/2021
3. This is a joint application under Section 29A(6) of the Arbitration & Conciliation Act, 1996, for extension of the mandate of the learned arbitrator, which is due to expire on 2nd January, 2022.
4. Learned counsel for the parties, ad idem, request that the mandate of the learned arbitrator may be extended by six months with effect from the said date.
5. Accordingly, petition is allowed. The mandate of the learned arbitrator shall stand extended by six months with effect from 7th January, 2022.
Section 29A(6) of the Arbitration & Conciliation Act, 1996 allows for the extension of the arbitrator's mandate upon joint application of the parties.
The court permitted a six-month extension of the arbitrator's mandate based on a joint application from both parties under the Arbitration and Conciliation Act, 1996.
The court has the discretion to extend the mandate of the Arbitral Tribunal in the interest of justice.
Extension of an Arbitral Tribunal's mandate is justified when there are no objections from the opposing party, as per Section 29A(6) of the Arbitration and Conciliation Act.
The court may extend the mandate of an Arbitral Tribunal in the interest of justice, upon joint request of the parties, as provided in the Arbitration and Conciliation Act, 1996.
The court extended the mandate of the Arbitral Tribunal for 18 months due to lack of objection from the respondent's counsel regarding ongoing arbitration disputes.
The court can extend the mandate of an Arbitral Tribunal under Section 29A(6) when there are no objections from the parties involved.
The court clarified that the power to extend the mandate of the arbitrator under Section 29A(4) of the Arbitration and Conciliation Act can be exercised even after the expiry of the specified period,....
Extension of Arbitral Tribunal's mandate is permissible under Section 11(6) of the Arbitration and Conciliation Act when both parties consent.
Sub-section (4) of Section 29A deals with cases where award is not made within a period of twelve months from date of completion of pleadings.
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