Section 240 in The U.P. Co-operative Societies Rules, 1968
240. [ [Substituted by Notification No. 2700/XLIX-1-94-7(1)-94, dated 15.7.94.]
The arbitrator or the board of arbitrators shall give an award within the time fixed by the Registrar which shall not exceed three months; failing which Registrar may, either, on the request of the arbitrator or the board of arbitrators, as the case may be, extend the time which shall not exceed three months or may take action as provided under sub-section (2) of section 71, provided that the arbitrator or the board of arbitrators so appointed shall give an award in maximum three months or the time fixed by the Registrar but it shall not be more than six months:Provided further that no award shall be invalid by reasons of its being given after expiry of the time fixed, if application for extension has been made even subsequently and has been granted by the Registrar].
