Arbitration | Application To Extend Time To Pass Arbitral Award Maintainable Even After Expiry Of Period Under S.29A(4) : Supreme Court
6 months, 1 week ago

Arbitration | Application To Extend Time To Pass Arbitral Award Maintainable Even After Expiry Of Period Under S.29A(4) : Supreme Court

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In an important ruling concerning the Arbitration and Conciliation Act, the Supreme Court today held that an application for extending the time for passing of an arbitral award can be filed even after the expiry of the twelve-month or the extended six-month period.“we hold that an application for extension of the time period for passing an arbitral award under Section 29A read with. “we hold that an application for extension of the time period for passing an arbitral award under Section 29A read with Section 29A is maintainable even after the expiry of the twelve-month or the extended six-month period, as the case may be.”, the bench comprising Justices Sanjiv Khanna and R. Mahadevan said. Till now, there's no authoritative ruling of the Supreme Court on the aforementioned issue of “whether an application for extension of a time period for passing an arbitral award is maintainable under Section 29A read with Section 29A even after the expiry of the mandated period.” However, there were varied views of the High Courts on the aforesaid issue which required a clarification from the Top Court. 'Termination' Of Arbitral Tribunal Upon Non-Filing Of Application For Extension Of Time Limit For Passing Of Award Wouldn't Mean 'Suspension' Of Arbitral Tribunal It was contended that if the application for extension of the time period was not filed within the mandated period prescribed under Section 29A of the Act than the courts could not extend the time period as the mandate of the arbitral tribunal was deemed to be terminated.

History of this topic

Arbitrator's Mandate Can Be Extended If Non-Completion Of Proceedings In 12 Months Is Due To Delays Not Attributable To Petitioner: Himachal Pradesh HC
1 day, 21 hours ago
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