Muskan Vig v. Dinesh Kumar Gupta & ANR.

$~32 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P. (MISC.) 2/2019 MUSKAN VIG ..... Petitioner Through:

Ms. Gunjan Sinha Jain with Mr. Rohit K. Aggarwal, Advs versus DINESH KUMAR GUPTA & ANR. .

.... Respondents Through:

Mr. Ashish Virmani with Mr.

Himanshu Dhuper, Advs

CORAM:

HON'BLE MR. JUSTICE RAJIV SHAKDHER

O R D E R

% 28.01.2019 I.A. No. 1250/2019 (Exemption) 1.

Allowed, subject to just exceptions.

O.M.P. (MISC.) 2/2019 2.

Issue notice.

3.

Mr. Ashish Virmani accepts notice on behalf of the respondents. 4.

Learned counsel for the respondents says that he does not wish to file a reply, as the respondents do not oppose the prayer made in the petition for extension of time.

5.

The record shows that the learned Arbitrator entered upon reference on 27.07.2016.

6.

Upon expiry of statutory period of 12 months, it appears, parties mutually agreed that in order to conclude arbitration proceedings, the time frame be extended by another 6 (six) months.

O.M.P. (MISC.) 2/2019

7.

Since proceedings did not conclude within extended time frame, the petitioner, appears to have moved this Court for further extension of time. 8.

This Court vide order dated 14.03.2018 extended time by 9 (nine) months, commencing from 27.01.2018.

9.

It appears that in September-October, 2018, parties undertook the exercise of exploring the possibility of arriving at a settlement. However, the exercise, evidently, did not yield results. 10.

It is in these circumstances that parties once again approached this Court for extension of time.

11.

This Court vide order dated 01.11.2018 extended time by a further period of 3 months.

12.

The last extension given by this Court expired on 27.01.2019. 13.

I am informed by counsel for the parties that they are close to a settlement, therefore, time be extended.

13.1 To be noted, I am also informed by counsel that arguments have been partly heard by the Arbitral Tribunal.

14.

Having regard to the aforesaid, one last opportunity of further three months are given to the parties to either arrive at a settlement or conclude the arbitration proceedings. The Arbitral Tribunal will closely monitor the timelines in this behalf.

14.1 Time for this purpose will commence from 27.01.2019. 15.

The petition is disposed of in the aforesaid terms. RAJIV SHAKDHER, J.

JANUARY 28, 2019 c /VKR O.M.P. (MISC.) 2/2019