M/S Newlink Overseas Finance Ltd, Rep.By Its Duly Authorised Signatory Mr.S.Rajan, v. M/S East West Resorts, Rep.By Its Partners,

A. No.1546 of 2022 ABDUL QUDDHOSE, J.

M/s.Newlink Overseas Finance Ltd.

..

Applicant versus

1. M/s.East West Resorts and others ..

Respondents - - - - - This is an application filed under Section 29A of the Arbitration and Conciliation Act, 1996 seeking for extension of time for the Arbitral Tribunal to pronounce the Arbitral Award.

2. Even though the aforementioned application has been filed today, a Joint Memo has been filed by all the learned counsels on instructions from their respective clients agreeable for the appointment of a fresh Arbitrator to decide the dispute between the parties arising out of a loan agreement, dated 01.04.2009.

3. Since the parties have filed a Joint Memo agreeable for appointment of a fresh Arbitrator by appointing a Retired District Judge, this application seeking for extension of time for the existing Arbitral Tribunal to pronounce the Arbitral Award is unnecessary.

4. After recording the fact that the relief sought for by the applicant 1/4

in this application has now become unnecessary, this application is disposed of in terms of the Joint Memo, dated 18.07.2023 and the dispute arising out of the loan agreement, dated 01.04.2009 entered into between the parties shall now be adjudicated by a retired District Judge. Accordingly, this Court appoints Mr.Justin David, District Judge (Retd.), having office at OAK, B1, Maple Orchard, Ben Foundation, Padikuppam Road, Anna Nagar West, Chennai (Mobile 9443551078) by consent of the parties on merits and in accordance with law.

5. The sole Arbitrator appointed by this Court through the consent of the parties to the dispute shall be paid his remuneration in accordance with 4th schedule of the Arbitration and Conciliation Act, 1996.

6. The sole Arbitrator shall adhere to the provisions of the Arbitration and Conciliation Act, 1996.

7. The sole Arbitrator shall pass an Arbitral Award, within the time period stipulated under the Arbitration and Conciliation Act, 1996.

8. The sole Arbitrator appointed shall decide the dispute afresh and by not relying to the existing pleadings which have been placed on record before the previous Arbitrator.

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9. The period during which the earlier Arbitration was initiated by the applicant till the date of receipt of a copy of this order shall be excluded for the purpose of limitation under section 14 of the Limitation Act.

18.07.2023 vsi2 ABDUL QUDDHOSE, J.

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