Srei Equipment Finance Limited v. T. K. Engineering Consortium Private Limited And ORS.

ORDER

OCD - 7

IN THE HIGH COURT AT CALCUTTA

COMMERCIAL DIVISION ORIGINAL SIDE AP-COM/407/2026 SREI EQUIPMENT FINANCE LIMITED VS T. K. ENGINEERING CONSORTIUM PRIVATE LIMITED AND ORS.

BEFORE

HON'BLE JUSTICE GAURANG KANTH Date: June 12, 2026.

Appearance:- Mr. Swatarup Banerjee, Adv.

Mr. Rajib Mullick, Adv.

Mr. Sariful Haque, Adv.

Ms. Sonia Mukherjee, Adv.

...for petitioner.

The Court:- Affidavit of service is taken on record. Service report indicates that the respondents have been duly served. Despite service, none appears on behalf of the respondents.

The petitioners have preferred the present petition under Section 29A(4) of the Arbitration and Conciliation Act, 1996, seeking extension of the mandate of the arbitral tribunal for conclusion of the arbitral proceedings and publication of the arbitral award.

Learned Counsel for the petitioners states that this Court vide order dated 05.04.2023 appointed a learned sole Arbitrator to adjudicate the disputes between the parties. The amended statement of claim was filed on 17.02.2024. The respondents were proceeded ex-parte. Since no pleading was filed on behalf of the respondents, the pleadings can be treated as having been

completed on 17.02.2024. Accordingly, the statutory period on one year for completion of the arbitral proceedings expired on 17.02.2025. Meanwhile, the petitioner was undergoing CIRP proceedings and that on 20.02.2026, the present set of advocates was engaged to pursue the arbitration proceedings. The proceedings are presently at the stage of final arguments. Since the mandate of the arbitral tribunal has expired on 17.02.2026, the petitioners have preferred the present petition seeking extension thereof. Upon consideration of the submissions of the parties and the materials placed on record, this Court is satisfied that there has been no undue or unwarranted delay on the part of the learned sole arbitrator in conducting the arbitral proceedings.

Having regard to the advanced stage of the proceedings and in the interest of justice, the mandate of the learned sole arbitrator is extended for a further period of six months from today.

The learned sole arbitrator is requested to make all reasonable endeavours to conclude the arbitral proceedings and publish the arbitral award within the extended time period.

With the aforesaid directions, the present petition stands disposed of. (GAURANG KANTH, J.) R. D. Barua