Idfc First Bank Limited v. Hitachi Mgrm Net Limited (Formerly Mgrm Net Limited)

$~12 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 227/2025 IDFC FIRST BANK LIMITED .....Petitioner Through:

Ms. Palak Nenwani, Mr. Dhruv Malik and Mr. Ronit Chopra, Advocates versus HITACHI MGRM NET LIMITED (FORMERLY MGRM NET LIMITED) .....Respondent Through:

Mr. Ashish Bhagat, Advocate

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 27.03.2025 1.

This petition is filed on behalf of the Petitioner under Section 29A (4) read with section 29A (5) of the Arbitration and Conciliation Act, 1996, seeking extension of time for concluding the proceedings in the arbitration matter.

2.

Affidavit has been filed by the Petitioner in terms of the order dated 17.03.2025.

3.

Having gone through the affidavit, Court is satisfied that there is no undue delay on the part of the Petitioner in approaching this Court in filing the present petition.

4.

Issue notice.

5.

Mr. Ashish Bhagat, learned counsel accepts notice on behalf of the Respondent and, on instructions, submits that he has no objection to the extension of the mandate of the Arbitral Tribunal. O.M.P. (MISC.)(COMM.) 227/2025 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 01/04/2025 at 12:53:18

6.

Accordingly, with the consent of the parties and considering that proceedings before the Tribunal are at the stage of examination of Respondent's sole witness, mandate of the Tribunal is extended for a further period of 06 months from today and the period from 31.08.2023 till 27.03.2025 is regularized.

7.

Petition is accordingly disposed of.

JYOTI SINGH, J MARCH 27, 2025/KA O. M. P. (MISC.)(COMM.) 227/2025 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 01/04/2025 at 12:53:18