Akasa Finance Limited v. Sai Precious Traexim Private Limited & ANR.

$~96 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 135/2025 AKASA FINANCE LIMITED .....Petitioner Through: Mr.Arvind Jadon, Ms.Taru and Ms.Pallavi, Advocates versus SAI PRECIOUS TRAEXIM PRIVATE LIMITED & ANR.

.....Respondents Through: Ms.Pratiti Rungta, Advocate

CORAM:

HON'BLE MR. JUSTICE MANOJ KUMAR OHRI

O R D E R

% 11.02.2025 I.A. 3493/2025 (exemption) 1.

Allowed, subject to all just exceptions.

2.

The application stands disposed of.

O.M.P.(MISC.)(COMM.) 135/2025 1.

By way of the present petition filed under Section 29(A) (4) & (5) of the Arbitration and Conciliation Act, 1996, the petitioner seeks extension of the mandate of Arbitral Tribunal for a period of 3 months for concluding the Arbitral proceedings and passing of the Award. 2.

Learned counsel for the petitioner submits that the mandate of the Arbitral Tribunal is set to expire on 17.02.2025. 3.

Issue notice.

The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 14/02/2025 at 12:23:00

4.

Learned counsel appears on behalf of the respondents on advance copy, accepts notice and submits that the respondent has no objection to the prayer made in the petition.

5.

Learned counsels for the parties submit that the decision on award has been reserved.

6.

Considering the aforesaid request and the no objection given by the other side, the present petition is allowed and the mandate of the Arbitral Tribunal for passing of the award is extended for a period of 3 months, with effect from 17.02.2025.

7.

The present petition is accordingly disposed of. MANOJ KUMAR OHRI, J FEBRUARY 11, 2025 na The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 14/02/2025 at 12:23:00