Tcg Media Limited v. Maxposure Media Group (India) Pvt. Ltd.

$~51 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 148/2025 TCG MEDIA LIMITED ....Petitioner Through:

Mr. Karan Jain, Advocate.

versus MAXPOSURE MEDIA GROUP (INDIA) PVT. LTD. ....Respondent Through:

Mr. Naresh Gupta and Ms. Nikita Gupta, Advocates.

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R

% 18.02.2025 I.A. 4228/2025 (Exemption) Allowed, subject to all just exceptions.

O.M.P.(MISC.)(COMM.) 148/2025 1.

This Petition under Section 29A(4) & (5) of the Arbitration and Conciliation Act, 1996 has been filed by the Petitioner for extending the mandate of the Arbitral Tribunal which is adjudicating disputes which arisen out of a Business Transfer Agreement dated 31.01.2015 entered into between the parties.

2.

Material on record indicates that since disputes arose between the parties, the Petitioner approached this Court by filing an arbitration petition being ARB.P. 672/2019 for appointment of an Arbitrator and this Court vide Order dated 28.07.2022 had constituted an Arbitral Tribunal consisting of a Sole Arbitrator. Pleadings stood completed on 06.05.2023. It is stated that the period of one year came to an end on 03.05.2024. It is stated that the 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 01/07/2025 at 16:30:04

parties had extended the mandate of the Arbitral Tribunal by mutual consent for a period of six months which came to an end on 03.11.2024. The mandate of the Arbitral Award has expired on 03.11.2024. 3.

It is stated that the parties have amicably settled the disputes and a request has been made to the Arbitral Tribunal to pass the Award in terms of the settlement arrived between the parties.

4.

Learned Counsel appearing for the Respondent states that he has no objection if the mandate of the Arbitral Tribunal is extended 5.

The Apex Court in Rohan Builders (India) Private Limited v. Berger Paints India Limited, 2024 SCC OnLine SC 2494, has held that an application for extension of the time period for passing an arbitral award under Section 29A(4) read with Section 29A(5) is maintainable even after the expiry of the twelve-month or the extended six-month period, as the case may be.

6.

In view of the facts of the present case, this Court is inclined to extend the mandate of the Arbitral Tribunal till 30.04.2025, so that the award can be pronounced.

7.

The Petition is disposed of, along with the pending applications, if any.

SUBRAMONIUM PRASAD, J FEBRUARY 18, 2025 S. Zakir 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 01/07/2025 at 16:30:04