Larsen And Tourbo v. Indiabulls Infrastructure Limited & ANR.
$~48 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(MISC.)(COMM.) 989/2024 LARSEN AND TOURBO .....Petitioner Through:
Mr. Subhash Gulati with Ms. Revati Gulati and Ms.
Diksha Narula Advocates versus INDIABULLS INFRASTRUCTURE LIMITED & ANR.
.....Respondents Through:
Mr. Aadil Khan, Mr. Abhishek Periwal, Advocates for Liquidator of R1 Mr. Rajat Navet, Mr. Kushagra Pandit, Advocates
CORAM:
HON'BLE MR. JUSTICE SUBRAMONIUM PRASAD
O R D E R
% 20.01.2025 1.
This is a petition under Section 29A(5) of the Arbitration & Conciliation Act, 1996 seeking extension of mandate of the Arbitral Tribunal for making the arbitral award.
2.
Material on record discloses that the Arbitral Tribunal consisted of three Judges (one Supreme Court Judge and two Judges of this Court ) was constituted on 19.05.2020. It is stated that the pleadings were completed on 15.06.2021. The first mandate of the Arbitral Tribunal was extended by consent thereafter vide Order dated 02.02.2024, the mandate was further 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 28/01/2025 at 14:26:51
extended up to 31.12.2024. It is stated that the matter is at the stage of pronouncement of award. The Petitioner has, therefore, approached this Court for extension of time for making the award. 3.
The Apex Court in Rohan Builders (India) Private Limited v. Berger Paints India Limited, 2024 SCC OnLine SC 2494, has held that an application for extension of the time period for passing an arbitral award under Section 29A(4) read with Section 29A(5) is maintainable even after the expiry of the twelve-month or the extended six-month period, as the case may be.
4.
In view of the fact that the matter is at the advance stage and arguments were heard, this Court is inclined to extend the mandate of the Arbitral Tribunal for six months from today till 30.06.2025 so that the Award can be pronounced and no further extension of time would be required by the Tribunal.
5.
The petition is disposed of along with the pending applications, if any. SUBRAMONIUM PRASAD, J JANUARY 20, 2025 RJ 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 28/01/2025 at 14:26:51