Time bound arbitration proceedings

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....d August 28,2002 regarding time bound arbitration proceedings at the exchanges. In the circular, it was stipulated that the arbitral tribunal shall make the arbitral award within 3 months from the date of entering upon the reference. It was also stipulated that the time taken to make the award may not be extended beyond three times, by the Managing director or the relevant authority on an applica....

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....e the award may not be extended beyond 3 times, by the Managing Director or Relevant Authority on an application by either of the parties or the arbitral tribunal, as the case may be. Notwithstanding the extensions granted in the above manner, the arbitral tribunal shall make the arbitral award within a period of six months from the date of entering into reference i.e. extension of time of award ....