M/S.Shriram Finance Ltd v. Indo Asia Finance Ltd

Application No.4676 of 2023 ABDUL QUDDHOSE, J.

This application has been filed under Section 29-A of the Arbitration and Conciliation Act, 1996, seeking for extension of time for the arbitrator to pass an arbitral award.

Admittedly, the arbitration is pending before the arbitrator in respect of the dispute between the applicant and the respondent, which is arising out of the agreement dated 09.06.2010. The stage of the arbitration is cross-examination of the respondent. The applicant seeks for further 6 months' time to pronounce the arbitral award.

The learned counsel for the respondent has appeared through Video Conferencing and she has no objection in granting extension of time as prayed in this application.

This Court is also satisfied with the reasons stated in the affidavit filed in support of this application. Accordingly, this application is allowed as prayed for by directing the arbitrator to complete the arbitration proceedings within a period of six months from the date of receipt of a copy of this order.

11.09.2023 1/1 https://www.mhc.tn.gov.in/judis