Krishna Creative Developers Pvt. Ltd v. Ocus Skyscrapers Realty Ltd.

$~OS-29 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ O.M.P.(MISC.)(COMM.) 9/2017 KRISHNA CREATIVE DEVELOPERS PVT. LTD..... Decree Holder Through Mr.Aditya Garg, Adv.

versus OCUS SKYSCRAPERS REALTY LTD.

..... Judgement Debtor Through Mr.A.K.Mehta and Mr.Rohit Khurana, Advs.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 07.07.2017 IA No.7389/2017 This is an application for early hearing. For the reasons stated in the application same is allowed and the matter is taken up. O.M.P.(MISC.)(COMM.) 9/2017 1.

This petition is filed under section 29-A of the Arbitration and Conciliation Act, 1996 seeking to extend the time for passing of the Award by the learned Sole Arbitrator.

2.

Disputes having arisen between the parties the petitioner approached this court for appointment of a Sole Arbitrator under section 11(6) of the Act. This court on 7.12.2015 in Arbitration Petition 601/2015 allowed the petition and appointed a Sole Arbitrator. Parties appeared before the learned Sole Arbitrator on 14.12.2015 when the learned Arbitrator entered into reference.

3.

It is urged that proceedings have been conducted over 15 sittings since then. The prescribed period of 12 months expired on 14.12.2016 and by consent of parties the time to make the Award was extended by six months i.e. till 14.6.2017.

4.

In the petition it is urged that the evidence of the claimant is being recorded and the proceedings have taken time due to voluminous records, claims and counter-claims, quantum of claims involved etc. 5.

Learned counsel appearing for the respondent submits that he has no objection to the present petition.

6.

Given the nature of the proceedings, completion of the adjudicatory process would take some time. The parties pray that at least the period be extended by one year. Accordingly, time for making of the Award is extended by a period of one year w.e.f. 14.6.2017. 7.

Petition stands disposed of.

8.

A copy of this order be given dasti under signatures of the Court Master to learned counsel for the Petitioner, as prayed. 9.

Date already fixed for 01.08.2017 is cancelled. JAYANT NATH, J JULY 07, 2017 n