ORAL ORDER

The petitioners are before this Court challenging the order passed by the LXXXVI Addl. City Civil Judge (Commercial Court - CCH No. 87), Bengaluru wherein the application filed under Section 29 A (5) of the Arbitration and Conciliation Act, 1996 came to be allowed vide order dated 10.09.2024 in Comm. A.A. 184/2023.

2. In short, the petitioners herein who had not tendered their consent for extension of the mandate of the arbitral tribunal, under Section 29-A(3) of the Act, had unsuccessfully resisted the respondent No.1’s application made under Section 29-A(5) of the Act, wherein the Trial Court has granted an extension of the arbitral mandate on grounds of sufficient cause of the demise of the then presiding arbitrator, and on account of the insolvency proceedings initiated against respondent No. 2 herein (who was the respondent No.1 in the Comm. A.A. 184/2023 and the borrower). Furthermore, the Ld. Commercial Judge has noted in the above that in view of the first proviso appended to Section 29-A(4) of the said Act, the arbitral tribunal was deemed to be continued till the passing of the impugned order.

3. However, the petitioners contend that the same is untenable in lig