Real Touch Finance Ltd v. Williamson Magor And Company Limited & ORS.

$~64 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 939/2024 REAL TOUCH FINANCE LTD .....Petitioner Through:

Appearance not given versus WILLIAMSON MAGOR AND COMPANY LIMITED & ORS.

.....Respondents Through:

Mr Satish Padhi, Mr Jeevan Ballav Panda, Mrs Dhriti Mehta, Advocates for R-1 to R-4, R-6 & R-8 Mr. Harsh Vardhan Arora, Ms. Nidhi Choudhary, Advocates for R-7

CORAM:

HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD

O R D E R

% 03.12.2024 I.A. 46976/2024 (Exemption) Allowed, subject to all just exceptions.

O.M.P.(MISC.)(COMM.) 939/2024 1.

This Petition under Section 29A(4) and 29A(5) of the Arbitration and Conciliation Act, 1996, read with Section 7 of the Commercial Courts Act, 2015, has been filed by the Petitioner for extending the mandate of the Arbitral Tribunal in the Arbitration proceedings which are going on between the parties.

2.

Material on record indicates that arbitration proceedings have been initiated between the parties in relation to disputes that have arisen out of a loan facility agreement entered into between the parties. It is stated that the 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 06/12/2024 at 12:49:35

Arbitral Tribunal entered the reference on 16.12.2021. 3.

It is stated that the mandate of the Tribunal expired on 04.06.2024 and and was mutually extended till 03.12.2024.

4.

The present Petition has been filed seeking extension of mandate of the arbitral tribunal by one year.

5.

This Court is inclined to extend the mandate of the Arbitral Tribunal for a further period of one year, i.e. till 03.12.2025, so that the award can be pronounced and no further extension of time would be required by the Tribunal.

6.

The Petition is disposed of, along with the pending applications, if any.

SUBRAMONIUM PRASAD, J DECEMBER 03, 2024 Rahul 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 06/12/2024 at 12:49:36