Shree Mangalam Builders And Real Estates Ltd v. V.Thirunavukkarasu

Application No.3896 of 2019 PUSHPA SATHYANARAYANA, J.

This application is filed seeking to extend the time for concluding the arbitration proceeding and to pass an arbitral award by the Arbitral Tribunal constituted by the Sole Arbitrator.

2. It is stated that the arbitration was commenced on 20.04.2017 and further extended for six months on consent given by both the parties. During the pendency of the arbitration proceedings, parties had tried to settle the matter through negotiations. Because of the negotiations, the arbitration proceedings could not be continued and completed within the time limit. This Court vide order dated 13.12.2018 had extended the time for a period of six months for completion of arbitration proceedings. As the mandate of the Tribunal has expired, the present application has been filed.

3. Heard Mr.M.Vijay Anand, learned counsel for the applicant and Mr.S.Sridhar, learned counsel for the respondents.

4. With the consent of learned counsel on both sides, time for completion of the arbitration proceedings and to pass an Arbitral Award is extended by four months from the date of receipt of copy of this order. The parties should endeavour to complete the arbitration proceedings within a period of four months.

5. Accordingly, this application stands ordered. 17.06.2019 rsi http://www.judis.nic.in

PUSHPA SATHYANARAYANA, J.

rsi Application No.3896 of 2019 17.06.2019 http://www.judis.nic.in