Intec Capital Ltd v. Aegis Ampoules And Vials Ltd & ORS.

$~19 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 899/2024 INTEC CAPITAL LTD .....Petitioner Through:

Mr. Pranav Goyal, Mr. Vishant Singh and Ms. Mreeganka Goyal, Advocates.

versus AEGIS AMPOULES AND VIALS LTD & ORS.

.....Respondents Through:

Mr. Dhananjay Shekhawat and Mr.

Dhananjay Kumar, Advocates.

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 05.05.2025 1.

This petition is preferred on behalf of the Petitioner under Section 29A(4) and (5) of the Arbitration and Conciliation Act, 1996 ('1996 Act') seeking extension of mandate of the Arbitral Tribunal. 2.

Disputes having arisen between the parties in relation to a Loan Agreement dated 31.10.2011, parties resorted to arbitration for adjudication of the disputes. By order dated 05.08.2019, this Court substituted the Arbitrator, terminating the mandate of the earlier Arbitrator. Both sides led their evidence and it appears from the documents on record that the learned Arbitrator prepared the Award but before the same could be signed and delivered to the parties, the Arbitrator expired. In these circumstances, Petitioner filed the petition under Sections 14(1)(a) and 15(2) of 1996 Act for appointment of a substitute Arbitrator, which was allowed vide order dated 14.12.2023 and a substitute Arbitrator was appointed. It is averred in the petition that the proceedings are at the stage of final arguments and O.M.P.(MISC.)(COMM.) 899/2024 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 01/07/2025 at 16:30:25

therefore, mandate be extended for completion of the proceedings and passing of the Award. The mandate of the Arbitrator has expired on 17.09.2023.

3.

Learned counsel for the Respondents, on instructions, submits that the Respondents have no objection to the extension of mandate of Arbitral Tribunal.

4.

Accordingly, with the consent of the parties, mandate of the Arbitral Tribunal is extended by 06 months from 05.05.2025 and period between 18.09.2023 to 04.05.2025 is regularised.

5.

Petition is allowed and disposed of in the aforesaid terms. JYOTI SINGH, J MAY 05, 2025/shivam O.M.P.(MISC.)(COMM.) 899/2024 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 01/07/2025 at 16:30:25