Fine Jewellery (India) Limited v. The Resolution Professional As Liquidator Appointed For Company In Liquidation Nascent Jewellery Pv

10-carbpl-926-2018 rrpillai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION (L) NO. 926 OF 2018 Fine Jewellery (India) Limited ... Petitioner vs.

The Resolution Professional as Liquidator ... Respondent Appointed for Company in Liquidation Nascent Jewellery Pvt. Ltd. (In Liquidation) Through Mr. Jitendrakumar Rambaran Yadav Ms. Neeta Jain a/w. Ms. Lovina S. Khera i/b. S. J. Khera for the Petitioner. Mr. Manoj Kumar Mishra for the Respondent.

CORAM : A.K. MENON, J.

st AUGUST, 2018 DATE : 27 P. C.

1.

This petition under section 29-A of the Arbitration & Conciliation (Amendment) Act, 2015 seeks extension of time for completion of arbitration proceedings by a period of six months. It is stated across the bar that this is the first extension being sought and has been necessitated due to the fact that insolvency proceedings were pending and in which there was a moratorium operating. 2.

Subsequently it transpires that liquidator has been appointed and the petitioner is now able to proceed with the reference. The liquidator has since been joined as a respondent in these proceedings. Affidavit of service tendered across the bar is taken on record. Learned Advocate for the respondent states that he will enter

10-carbpl-926-2018 appearance within one week from today. However, he too seeks sometime to obtain instructions.

3.

In the facts of the case I am of the view that an extension is required to be granted since the matter has proceeded ex-parte before the arbitrator thus far. Now since respondent is represented, it will be necessary to extend time. In the circumstances I find it appropriate to extend time by six months from today to complete arbitration proceedings and make award. Accordingly, I pass the following order :

(i) Time extended for completion of arbitration proceedings extended by six months.

(ii) Petition disposed of in the above terms.

(A.K. MENON, J.) Digitally signed by Rajeshwari Ramesh Pillai Date:

2018.08.28 18:20:28 +0530 Rajeshwari Ramesh Pillai