Aegis Logistics Limited v. Hindustan Petroleum Corporation Limited

1 902-carbpl 1245-19 psv

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION (L.) NO.1245 OF 2019 Aegis Logistics Ltd.

..Petitioner Vs.

Hindustan Petroleum Corporation Limited ..Respondent ----- Mr.Kunal Dwarkadas with Mr.Areez Gazda and Ms.Sanaya Contractor i/ b. Veritas Legal for Petitioner.

Mr.Rachit Thakar, Mr.Ronak Desai and Shreegeeta Rai i/b. Rustamji & Ginwala for Respondent.

----- CORAM : G.S. KULKARNI, J.

DATE : 15th OCTOBER, 2019 P.C.:

This is a petition filed under Section 29A of the Arbitration and Conciliation Act, 1996 whereby the petitioner has prayed for extension of time for a period of one year, to enable the arbitral tribunal to complete the arbitral proceedings and publish an award. It is submitted that the cross-examination of the petitioner's witnesses has been concluded. There is also a counter-claim before the arbitral tribunal. 2.

Learned Counsel for the respondent has no objection for the prayers as made in the petition.

3.

Having perused the averments in the petition, the mandate of the arbitral tribunal to conclude the arbitral proceedings and publish an award is required to be extended by a period of one year. Accordingly, the petition is granted in terms of prayer clause (a). However,

2 902-carbpl 1245-19 considering the facts of the case and the stage of the arbitral proceedings, the arbitral tribunal shall make an endeavour to conclude the arbitral proceedings and pronounce an award within the extended period so that there is no need to the parties to apply for further extension. It is directed that the parties shall co-operate in the early disposal of the arbitral proceedings.

4.

Disposed of. No costs.

[G.S. KULKARNI, J.]