Hmg Industries Ltd. v. 3a Capital Services Ltd.
2-CARBP-17-2024.DOC Shephali
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO. 17 OF 2024 HMG Industries Ltd
...Petitioner
Versus
3A Capital Services Ltd
...Respondent
Ms Alisha Lambay, i/b Lambay & Co, for the Petitioner. None for the Respondent.
CORAM:
ARIF S. DOCTOR, J SHEPHALI SANJAY MORMARE DATED:
18th October 2024 PC:- by SHEPHALI SANJAY MORMARE Date: 2024.10.21 17:45:16 +0530 1.
This Petition is filed under Section 29A of the Arbitration and Conciliation Act 1996 for an extension of time to complete the arbitral mandate.
2.
The Learned Advocate for the Petitioner fairly submits that the matter is in fact circulated at the instance of the Respondent. The records reflects this. She submits that the arbitral proceedings are at the stage commencement of cross-examination and this is the second extension.
2-CARBP-17-2024.DOC 3.
Though the matter was circulated at the instance of the Respondent and the Respondent was absent today, the interest of justice would require me to extend the mandate of the Arbitral Tribunal. 4.
Hence, I am inclined to allow the Arbitration Petition in terms of prayer clause (a), which reads thus:
"(a) That this Hon'ble court be pleased to exercise its powers and jurisdiction under section 29A(4) and (5) of the Arbitration and Conciliation Act, 1996 (as amended) and to extend the time period for disposal of the arbitration proceedings pending between the Petitioner and the Respondent before the Learned Sole Arbitrator, Ms. Sneha Prabhu, till six (6) months from the date of the Order or for such other period as this Hon'ble Court deems fit and proper in the facts of the present case."
5.
It is made clear that this shall be the final extension and that the period of six months to complete the mandate of the Tribunal shall commence from the date on which a copy of this order is uploaded. 6.
The Petition is accordingly disposed of.
(ARIF S. DOCTOR, J)