Hero Fincorp Ltd v. Vigyan Chemicals Pvt. Ltd & ORS.
$~43 *
IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(MISC.)(COMM.) 85/2018 HERO FINCORP LTD ..... Decree Holder Through:
Mr Venancio D' Costa and Ms Astha, Advocates.
versus VIGYAN CHEMICALS PVT. LTD & ORS.
..... Judgement Debtors Through:
Ms Radhika Goel, Advocate for R-1 & R-2.
Mr Vipul Goel, Advocate for R-3.
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
O R D E R
% 14.05.2018 IA No.6644/2018 1.
Allowed, subject to all just exceptions.
O.M.P.(MISC.)(COMM.) 85/2018 2.
The petitioner has filed the present petition under Section 29A of the Arbitration and Conciliation Act, 1996 (hereafter 'the Act'), inter alia, praying as under:- "a) pass an order extending the time period of the Hon'ble Arbitral Tribunal in the Arbitral Proceedings titled 'Hero FinCorp Ltd. vs. M/s Vigyan Chemicals Pvt. Ltd' pending before Hon'ble Mr. Justice N.K. Mody (Retd.), for the period as convenient to this Hon'ble court, in light of the facts and circumstances as enumerated hereinabove."
3.
The learned counsel appearing for the petitioner submits that the Arbitral Tribunal has heard the final arguments and has reserved the matter for making the award. The learned counsel appearing for the respondents also states that the respondents have no objection for extension of time for making the award.
He; however, requests that the time for making the award be extended for a further period of six months instead of one month as he states that the respondents would be moving an application in this Court for recall of witnesses and that may take some time. This Court has certain reservations whether any such application can be filed before this Court. However, in the event, any further time is required, an appropriate order would be passed at that stage.
At the present stage, the Arbitral Tribunal has reserved the orders for making the award and in the circumstances, this Court considers it apposite to extend the time for making the award by a further period of two months from today. It is so directed 4.
The petition is disposed of in the above terms. VIBHU BAKHRU, J MAY 14, 2018 MK