L And T Housing Finance Ltd vs Trishul Developers And 29 Ors on 12 March, 2020

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Bombay High Court

L And T Housing Finance Ltd vs Trishul Developers And 29 Ors on 12 March, 2020

Bench: G.S. Kulkarni

psv                                   1                            903-carbpl 363-20


           IN THE HIGH COURT OF JUDICATURE AT BOMBAY
               ORDINARY ORIGINAL CIVIL JURISDICTION
                    IN ITS COMMERCIAL DIVISION
        COMMERCIAL ARBITRATION PETITION (L.) NO.363 OF 2020

L & T Housing Finance Ltd.                              ..Petitioner
             Vs.
Trishul Developers & Ors.                               ..Respondents
                                       -----

Mr.Faisal Sayyed with Mr.Hassan F. i/b. Manilal Kher Ambalal & Co. for
Petitioner.
Mr.Jayesh Mestry for Respondents.
                                       -----

                            CORAM :        G.S. KULKARNI, J.

                            DATE :         12th MARCH, 2020

P.C.:

1. Heard learned Counsel for the parties.

2. This is a petition filed under Section 29A of the Arbitration and Conciliation Act, 1996 (for short, "the Act") whereby the petitioner has prayed for extension of time limit for the arbitral tribunal to conclude the arbitral proceedings and publish an award. Learned Counsel for the respondents has no objection for the grant of prayers as made in the petition. The respondents have also given a consent by affidavit of respondent No.3 (Exhibit "E", page

123) for extension of the mandate of the arbitral tribunal. It is stated that the claimant's evidence is concluded and the respondents do not intend to lead any oral evidence. It is informed by learned Counsel for the respondents that there is also a counter-claim.

3. In the facts and circumstances of the case, it is appropriate that mandate of the arbitral tribunal to conclude the arbitral proceedings and publish an award is extended for a period of 8 months from today. Ordered accordingly.

4. The arbitral tribunal shall make an endeavour to conclude the arbitral proceedings and publish an award within the extended period so that psv 2 903-carbpl 363-20 there is no need to the parties to apply for a further extension. The parties shall co-operate in the early conclusion of the arbitral proceedings.

5. The petition is disposed of in the above terms. No costs.

[G.S. KULKARNI, J.] Digitally signed by Prajakta Prajakta S. Vartak S. Date:

Vartak     2020.03.16
           17:27:38
           +0530

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