Duro Felguera, S.A v. Gangavaram Port Limited

HON'BLE SRI JUSTICE M.S.RAMACHANDRA RAO ARBITRATION APPLICATION No.31 of 2019 ORDER:

Heard Ms.Altaf Fathima, counsel appearing for the applicant, and Sri Y.V.Anil Kumar appearing for the respondent.

2. This application is filed under Section 29A of the Arbitration and Conciliation Act, 1996 (for short 'the Act') seeking extension of time of one year from 30.04.2019 for completion of arbitral proceedings and passing of award therein under Package 4 contract between the parties.

3. The counsel for the respondent has filed a memo agreeing to the said extension. The contents of the said memo are as under: "The present petition herein filed by the Petitioner before this Hon'ble Court U/s.29A(5) The Arbitration and Conciliation Act, 1996 ("Act") to grant extension of time of 1 (One) year from April 30, 2019 for completion of the arbitral proceedings and passing of the Award in the arbitral proceedings. Without prejudice to the pleadings filed by the Respondent before the Hon'ble Arbitral Tribunal and to the extent of grant of extension of time of 1 (One) year from April 30, 2019 for completion of the arbitral proceedings and passing of the Award in the arbitral proceedings, the Respondent hereby agree and consent to the prayer made by the Petitioner. The consent so made by the Respondent shall not be deemed to be accepting the contents of the petition on merits and is confined to the scope and prayer made in the petition."

4. In view of the fact that both parties agreed to the extension of time of one year, in exercise of power conferred on this Court under Section 29A of the Act, the time for completion of the

arbitral proceedings between the parties arising out of the above contract is extended up to 30.04.2020.

5. Accordingly, the Arbitration Application is allowed. ___________________________ M.S.RAMACHANDRA RAO, J Date: 24.04.2019 sur