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High Court of DelhiO.M.P. (MISC.)/26/2024

M/S Kotak Mahindra Prime Ltd. v. M/S Data Stat Technologies Pvt. Ltd. & ANR.

2024-09-10Hon'Ble Mr. Justice Prateek Jalan2 pages

$~21 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P. (MISC.) 26/2024 & I.A. 36311/2024 M/S KOTAK MAHINDRA PRIME LTD.

.....Petitioner Through:

Mr. Paran Kumar, Advocate.

versus M/S DATA STAT TECHNOLOGIES PVT. LTD. & ANR.

.....Respondents Through:

Mr. Yajur Bhalla, Advocate for R-1.

Mr. Rakesh Kumar & Mr. Achin Goel, Advocates for R-2.

CORAM:

HON'BLE MR. JUSTICE PRATEEK JALAN

O R D E R

% 10.09.2024 1.

This petition has been filed, under Section 29A of the Arbitration and Conciliation Act, 1996, seeking extension of the mandate of the sole arbitrator, who is in seisin of disputes between the parties under two agreements - Car Loan Agreement dated 21.12.2017 and Loan Agreement dated 20.11.2018 2.

The mandate of the learned Arbitral Tribunal was extended from time to time, lastly by order dated 26.04.2024 in O.M.P.(MISC.) 36/2023 until 03.08.2024. It is stated in the petition that the mandate of the arbitral tribunal has expired on 03.08.2024.

3.

I am informed that the proceedings are at the stage of final arguments.

O.M.P. (MISC.) 26/2024 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 12/09/2024 at 12:19:37

4.

Learned counsel for the respondents, appear pursuant to notice issued on 13.08.2024. Reply has been filed by respondent No. 2, however, learned counsel for the respondents submit that the mandate may be extended for a period of six months at this stage. 5.

In view of the above, and with the consent of learned counsel for the parties, the petition is allowed and the mandate of the arbitral tribunal is extended for a period of six month, with effect from 03.08.2024. 6.

The petition, alongwith the pending application, stands disposed of in these terms.

PRATEEK JALAN, J SEPTEMBER 10, 2024 'pv'/ O.M.P. (MISC.) 26/2024 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 12/09/2024 at 12:19:37