Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
The Supreme Court addressed two key issues: 1) Whether an application u/s 29A(4) of the Arbitration and Conciliation Act, 1996 for extension of the Arbitral Tribunal's mandate can be filed after the expiry of its mandate. The Court held that based on the wording of Section 29A(4) and its decision in Rohan Builders, an application for extension can be filed even after the termination of the Tribunal's mandate upon expiry of the statutory and extendable period. 2) Whether an extension should be granted in the present case. The Court held that considering the COVID-19 pandemic, the exclusion of the period from 15.03.2020 to 28.02.2023 from limitation periods, and the parties' agreement to seek extension, there was sufficient cause for granting extension. Accordingly, the High Court's order was set aside, and the civil appeal was allowed.
The Supreme Court addressed two key issues: 1) Whether an application u/s 29A(4) of the Arbitration and Conciliation Act, 1996 for extension of the Arbitral Tribunal's mandate can be filed after the expiry of its mandate. The Court held that based on the wording of Section 29A(4) and its decision in Rohan Builders, an application for extension can be filed even after the termination of the Tribunal's mandate upon expiry of the statutory and extendable period. 2) Whether an extension should be granted in the present case. The Court held that considering the COVID-19 pandemic, the exclusion of the period from 15.03.2020 to 28.02.2023 from limitation periods, and the parties' agreement to seek extension, there was sufficient cause for granting extension. Accordingly, the High Court's order was set aside, and the civil appeal was allowed.
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