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In view of the imposition of nation-wide lockdown due to the current pandemic outbreak, the Indian Commercial and Arbitration Bar Association(ICABA) has requested the Supreme Court to extend timelines related to disposal of cases, as prescribed under some statutes like the Arbitration Act, IBC, NI Act etc.
The request has been made by a delhi-based lawyer Advocate Ankur Mahindro. In the letter he wrote, he pointed out that even though, by general order " Re: Cognizance for extension of limitation, Suo Moto WP(c) No. 3/2020, the Supreme Court had extended the limitation period of filings before any court" in India. However, "the said order does not encompass and deal with situations where certain proceedings abate/terminate on account of non-adherence to timeliness prescribed by certain statute(s)." These are some lines quoted from his letter.
Along with this, he has also added a list of provisions which are to be seen for the said same, where be has also asserted that is the timelines are not extended, the concerned parties will suffer adversely, with no fault of theirs in mine.
The list of provisions are :
Section 29A of the Arbitration and Conciliation Act, 1996 which obligated the Arbitral Tribunal to pass the final award within 12 months from the entry upon the same reference. The period may extend to 6 months with mutual consent of both the parties, and if the parties are unable to have a mutual dare for extension to five the final reward if can approach the court to do the same, and provide the parties with additional time period. And in the absense of which the mandate of the Arbitral Tribunal will terminate.
Section 12(3) of IBC, 2016
Section 138 of the Negotiable Instrument Act, 1881
Section 131 of the Trademarks Act, 1999
Thereof, the lawyer exercising this power under Article 142 of The Constitution had urged to declare and pass appropriate directions for the request so that the concerned parties wouldn't have to approach the courts to seek the same. He also suggested that all such proceedings should automatically get extended w.e.f 15th March, 2020. Adding to the list of suggestions, he also said that any physical service of other notices or additional affidavit shall/can be made via e-mail it Whatsapp.
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