Madras High CourtA/4634/2023allowed as prayed for

M/S.Shriram Finance Ltd v. M/S.Bhoruka Classic Finance Pvt Ltd

2023-09-27Honourable Mr Justice Abdul Quddhose5 pages

IN THE HIGH COURT OF JUDICATURE OF MADRAS

DATED:27.09.2023

CORAM

THE HONOURABLE MR.JUSTICE ABDUL QUDDHOSE M/S.SHRIRAM FINANCE LTD (Formerly known as M/s, Shriram City Union Finance Limited) having its registered office at Sri Towers, Plot No.14A, South Phase, Industrial Estate, Guindy, Chennai 600 032, And one of its branch office at No.13, 3rd Floor Meenakshi Towers, Opposite Ramakrishna School Ground, G.N.Shetty Road, Rajamannar Street, T.Nagar, Chennai 600 017 Land Mark (Ramakrishna School Ground) Represented by its authorised signatory ...Applicant -VsM/s.Bhoruka Classic Finance Pvt.Ltd., Represented by its Director Vikas Agarwal Nirmal Building, 16th Floor, Nariman Point, Mumbai 400 021 and another.

...Respondents

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Application under Section 29(A) of the Arbitration and Conciliation Act,1996, has been filed seeking to pass an order under Section 29-A(4) of the Arbitration and Conciliation Act, 1996 extending the time by a period of 12 months from 04.03.2023, to enable the arbitrator to complete the arbitration proceedings by passing award in Arbitration Case No.8 of 2022 as between the applicant and the respondent.

For applicant : Ms.Narmadha for M/s.M.Arunachalam For respondent : Mr.O.Solaiappan

ORDER

This application has been filed under Section 29(A) of the Arbitration and Conciliation Act, 1996, seeking for extension of time for the arbitral tribunal to pronounce the arbitral award.

2. The learned counsel for the respondent has not raised any objection for allowing this application filed under Section 29(A) of the 2/5

Arbitration and Conciliation Act,1996.

3. This Court is also satisfied with the reasons contained in the affidavit filed in support of this application, as sufficient cause has been shown by the applicant for extension of time.

4. Accordingly, this application is allowed as prayed for and the arbitral tribunal is directed to pronounce the arbitral award within a period of three months from the date of receipt of a copy of this order. 27.09.2023 ssa/rkm 3/5

ABDUL QUDDHOSE, J ssa/rkm 4/5

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