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CHANDRA DHARI SINGH
J J Fabtex Pvt. Ltd. – Appellant
Versus
United India Insurance Co. Ltd. – Respondent
ORDER
Chandra Dhari Singh, J. (Oral)
1. The instant petition under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter "the Arbitration Act") seeking the following reliefs:
"a) To allow the present petitioner in the favour of the petitioner and against the respondent and set aside the imposed award dated 15th July, 2019 to the effect whereby the Arbitral Tribunal has no objection Reply to the petitioner.
b) Pass any other order deem fit and proper to this Hon'ble Court in the interest of justice."
2. The petitioner, by way of the instant petition, has assailed the Award dated 12th July 2019, which has been passed by the Arbitral Tribunal in the arbitration proceedings initiated between the parties pursuant to the disputes arisen amongst them stemming from the insurance coverage sought by the petitioner from the respondent.
3. On 13th June 2015, a fire broke out at the NOIDA factory of the petitioner, for which the petitioner sought coverage, however, it has been alleged that the same was not acted upon by the respondents as per its scheme and policies, after which the said reference to arbitration was sought.
4. The learned counsel for the petitioner has taken se
Adherence to time limits stipulated under the Arbitration Act and the requirement of due diligence in seeking condonation of delay.
The main legal point established in the judgment is the significance of adhering to the prescribed limitation period under the Arbitration Act and the requirement for parties to exercise their rights....
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.
The judgment establishes the strict interpretation and application of the limitation period under Section 34(3) of the Arbitration Act, emphasizing the requirement for sufficient cause and the mandat....
The law of limitation aims to prevent outdated, fictitious, or fraudulent claims and requires parties to exercise their rights within the prescribed time.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 scope of interference in an arbitral award under Section 34 of the Arbitration and Conciliation Act, 1996 is limited and narrow. The Courts shall not sit in an appeal while adjudicating a challen....
Delay beyond 120 days (90+30) in Section 34 petitions or corresponding appeals under Section 37 of Arbitration Act not condonable via Limitation Act Section 5; negligence, inaction, lack of bonafides....
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