Edelweiss Commodities Services Limited v. Nathella Sampath Jewelry Private Limited

4.arbpl.176.2019.doc dik

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

O.O.C.J.

ARBITRATION PETITION (L) NO. 176 OF 2019 Edelweiss Commodities Services Ltd.

...Petitioner

vs Nathella Sampath Jevelry Pvt. Ltd.

...Respondent.

.....

Mr Syed Naserali Rizvi I/b Thakore Jariwala & Associates for the Petitioner.

.....

CORAM : B.P.COLABAWALLA, J.

MARCH 05, 2019.

P.C. :

This Arbitration Petition has been filed under Section 29A of the Arbitration and Conciliation Act, 1996(for short "the Act") seeking a further extension of time for a period of six months to complete the arbitration proceedings and pass a final award. Earlier also, this Court by its order dated 8th September, 2017 had extended the time to complete the arbitration proceedings and pass a final award by a period of one year from the said date. It appears that during this period the Respondent was before the N.C.L.T. and an order under Section 14 of the Insolvency and Bankruptcy Code, 2016 was passed which inter alia restrained the claimant (the Petitioner herein) from proceeding with the arbitration. It is in this light that further extension is sought.

Pg 1 of 2

4.arbpl.176.2019.doc Learned advocate appearing on behalf of the claimant (the Petitioner herein) has placed on record of this Court the letter written by the advocates for the Respondent that the Respondent has no objection if the time is so extended.

In these circumstances, the time to complete the arbitration proceedings and pass a final award is extended by a period of six months from today. The Arbitration Petition is disposed of in the aforesaid terms. No order as to costs.

(B.P.COLABAWALLA, J.) Pg 2 of 2