M/S Vardhman Precision Profiles And ... vs Ntpc Limited on 4 March, 2021

[Cites 1, Cited by 0]

Delhi High Court - Orders

M/S Vardhman Precision Profiles And ... vs Ntpc Limited on 4 March, 2021

Bench: Sanjeev Narula

                          $~21
                          *    IN THE HIGH COURT OF DELHI AT NEW DELHI
                          +    O.M.P.(MISC.)(COMM.) 54/2021

                                M/S VARDHMAN PRECISION PROFILES AND TUBES PVT.
                                LTD.                                     ..... Petitioner
                                            Through: Ms. Renuka Arora, Advocate.

                                                    versus

                                NTPC LIMITED                                        ..... Respondent
                                                    Through:     Ms. Laxmi Kumari and Mr. Puneet
                                                                 Taneja, Advocates.

                                CORAM:
                                HON'BLE MR. JUSTICE SANJEEV NARULA
                                        ORDER

                          %             04.03.2021

                          [VIA VIDEO CONFERENCING]

1. The present petition under Section 29A(5) of the Arbitration and Conciliation Act, 1996 [hereinafter referred to as the 'Act'], seeks extension of the mandate of the Arbitral Tribunal by 15 months for completion of proceedings and passing of Arbitral Award. The learned counsel for the Respondent who appears on advance notice, does not oppose the prayer for as made in the present petition.

2. The arbitrator entered reference to adjudicate the dispute on 21st March, 2018. In the arbitral hearing dated 21st September, 2019 it was recorded that the parties have mutually agreed to extend the time period of arbitration by six months from 3rd October, 2019 (being the date of expiry of 12 months). Calculated thus, it is submitted by the counsel that the mandate has expired on 2nd April, 2020.

Signature Not Verified Digitally Signed By:SAPNA SETHI Signing Date:12.03.2021 15:55

3. They further state that the Claimant-Petitioner has already concluded their final arguments, the Respondents are yet to make their submissions, and the Claimant would require time for rejoinder thereto.

4. Moreover, the Hon'ble Apex Court in its order dated 6th May, 2020 in Suo Moto Writ (Civil) No. 3/2020 titled In Re: Cognizance for Extension of Limitation, has directed that in cases where the time for passing of the award has expired after 15th March, 2020, the time for conclusion of proceedings and passing of award automatically stands extended with effect from 15th March, 2020, till further orders of the Supreme Court.

5. In view of the above, the present petition is allowed and the mandate of the Arbitral Tribunal is extended for a further period of fifteen months w.e.f. 2nd April, 2020.

6. Accordingly, the present petition is disposed of.

SANJEEV NARULA, J MARCH 4, 2021 nk Signature Not Verified Digitally Signed By:SAPNA SETHI Signing Date:12.03.2021 15:55

Unlock Advanced Research with PRISMAI

Delhi High Court - Orders