Elecon Engineering Company v. Bgr Energy Systems Ltd
IN THE HIGH COURT OF JUDICATURE AT MADRAS
(ORDINARY ORIGINAL CIVIL JURISDICTION) FRIDAY, THE 14TH DAY OF SEPTEMBER 2018 THE HON'BLE MS. JUSTICE P.T.ASHA A. Nos.4687 to 4695 of 2018 A. Nos.4687 & 4691 of 2018:- No.3500002136, 02.07.2010 and Service Order No.3300006255, 19.07.2011 relating to Marwa Project Proceedings No.1 of 2017
A. No.4687 of 2018:- mentioned in the schedule herein with the corporate guarantees of the applicant and consequently direct the respondent to return the original bank guarantees submitted by the applicant.
A. No.4691 of 2018:- A. Nos.4688 & 4692 of 2018:- No.3500000271, 06.02.2008 and Service Order No.33000004395, 15.06.2010 relating to Khaperkheda Project Proceedings No.5 of 2017
A. No.4688 of 2018:- mentioned in the schedule to the Judges Summons with the corporate guarantees of the applicant and consequently direct the respondent to return the original bank guarantees submitted by the applicant.
A. No.4692 of 2018:- A. Nos.4689 & 4693 of 2018:- No.3500004565 relating to TRN Project Proceedings No.2 of 2017
A. No.4689 of 2018:- mentioned in the schedule herein with the corporate guarantees of the applicant and consequently direct the respondent to return the original bank guarantees submitted by the applicant.
A. No.4693 of 2018:- A. Nos.4690 & 4694 of 2018:- No.3500002117, 24.06.2010 and Service Order No.3300006015, 01.06.2011 relating to Chandrapur Project Proceedings No.3 of 2017
A. No.4690 of 2018:- mentioned in the schedule herein with the corporate guarantees of the applicant and consequently direct the respondent to return the original bank guarantees submitted by the applicant.
A. No.4694 of 2018:- A. No.4695 of 2018:- In the matter of Section 29A No.3500001133, 12.05.2009 relating to Mettur Project Proceedings No.4 of 2017
These applications coming on this day before this court for hearing the court made the following order:- The above applications have been filed under Section 29(A) of the Arbitration and Conciliation Act, 1996, seeking extension of time for the Arbitral Tribunal to conclude their proceedings and also for extending the bank guarantees which have expired and are due to expire on various dates.
2. Both the parties have consented to have the bank guarantees extended by a further period of six months from the date of expiry of their respective bank guarantees and also for granting an extension of 12 months to the Arbitral Tribunal.
3. Accordingly, the bank guarantees are extended for a further period of six months from the date of expiry of the respective bank guarantees. Further, the Arbitral Tribunal is granted an extension of 12 months to conclude the proceedings from 14.06.2018. Both the parties are directed to adhere to the schedule and in case of any default or delay on the part of the either of the parties, the Tribunal is free to put them on such terms as it deems fit. In case, the proceedings are not completed by March 2019 and the period of the bank guarantees have expired, any further application for extension of bank guarantees shall be moved by the parties before the Arbitral Tribunal.
4. All the applications are closed with the above directions.
Sd/-P.T.A.J 14/09/2018 //Certified to be a true copy// Dated this the day of 2018 JJ 18.09.2018 COURT OFFICER From 25.09.2008 the Registry is issuing certified copies of the Order/Judgment Decree in this format.