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NEENA BANSAL KRISHNA
India Tourism Development Corporation – Appellant
Versus
Bajaj Electricals Ltd – Respondent
JUDGMENT
Neena Bansal Krishna, J.
I.A.13517/2019 (under Section 151 CPC for Condonation of Delay of 1 day in filing of the petition under Section 34 of the Arbitration and Conciliation Act, 1996) and I.A.13519/2019 (under Section 151 CPC for Condonation of Delay of 42 days day in re-filing of the said petition)
1. The petitioner being aggrieved by some of the claims decided against it, has filed a petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "A&C Act") against the impugned Award. However, despite due diligence and on account of bona fide reasons, the petitioner was unable to file the petition within the stipulated period of limitation. The Award was signed by the learned Arbitrator on 30th October, 2018, but since the balance fee had not been paid to the learned Arbitrator, the copy of the Award was handed over to the petitioner on 19th December, 2018 and to the respondent on 24th December, 2018. Thereafter, an application dated 02nd February, 2019 was filed for review/correction and the mandate of the Tribunal finally came to an end on 01st May, 2019 in regard to which an email was sent to the counsel by the learned Arbitrator
The Court emphasized the importance of diligence in addressing procedural defects and allowed the condonation of delay based on the petitioner's consistent efforts to rectify the objections.
Strict adherence to limitation periods under the Arbitration and Conciliation Act can accommodate curable procedural defects, provided diligent efforts to comply with requirements are shown.
An application to set aside an arbitral award must adhere strictly to procedural requirements, failing which it may be deemed non-est, thereby barring the challenge by limitation.
The failure to file essential documents alongside a Section 34 application renders the filing 'non-est', thus failing to stop the limitation period, leading to dismissal of the petition.
The law of limitation aims to prevent outdated, fictitious, or fraudulent claims and requires parties to exercise their rights within the prescribed time. The Court emphasized the need for due dilige....
The Court emphasized the importance of due diligence and dispatch in exercising the right to challenge an Arbitral Award within the prescribed time, as per the provisions of the Arbitration Act.
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