Hero Fincorp Limited v. Jumbo Finvest India Limited & ORS.

$~49 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 412/2024 & I.A. 29785/2024 HERO FINCORP LIMITED .....Petitioner Through:

Ms Dipika Prasad, Adv.

versus JUMBO FINVEST INDIA LIMITED & ORS.

.....Respondents Through:

Ms Sonia, Adv. (through VC)

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 21.08.2024 1.

This is a petition filed under Section 29A(4) of the Arbitration and Conciliation Act, 1996 seeking extension of mandate of the Arbitral Tribunal by a period of 9 months for concluding the arbitral proceedings and passing the final award.

2.

When the matter came up for hearing on 18.07.2024, learned counsel for the respondents appeared and was directed to file a reply. No reply has been filed by the respondents.

3.

It is stated that the delay occurred on account of the respondents not paying the arbitral fee.

4.

For the reasons noted above, I am of the view that sufficient cause has been explained for the delay. The petition is allowed and the mandate of the Arbitral Tribunal is extended by a period of 9 months from today. 5.

The period from 24.01.2024 till today stands regularized. 6.

The petition is disposed of accordingly.

JASMEET SINGH, J AUGUST 21, 2024/sr Click here to check corrigendum, if any 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 28/08/2024 at 12:32:59