Case Law Details
Magirsha Industries Vs Gujarat State Fertilizer And Chemicals Limited (Gujarat High Court)
Issue relating to power of this Court to extend the mandate, insofar as the references made by MSME is seriously disputed by respondent counsel. Having regard to the fact that sub-section (3) of section 18 of MSME Act, 2006 that the provision of Arbitration and Conciliation Act, 1996 (Act 26 of 1996) shall apply to the dispute as if the arbitration was in pursuance of an arbitration agreement referred to in sub-section (1) of section 7 of the Act.
This Court is of the considered view that even in respect of the references made by MSME, the provisions of Arbitration and Conciliation Act, 1996 would be applicable and thereby this Court is empowered under Section 29A to extend the mandate where the period prescribed under the Act for concluding the arbitration proceedings has expired.
In the instant case, as already noticed hereinabove, the arbitration proceedings having commenced by the Arbitral Tribunal, for the reasons set out in its proceedings, was adjourned from time to time and from the month of March, 2020, the Arbitral Tribunal could not hold sittings due to nationwide lock-down and as such reason for extension of time sought for deserves to be accepted and accordingly it is accepted. In other words, the prayer sought for in the application deserves to be granted.
FULL TEXT OF THE JUDGMENT/ORDER OF GUJARAT HIGH COURT
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