Time bound arbitration proceedings

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..... Please refer to our circular SMD/Policy/Cir-18/2002 dated 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, b....

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....ng upon the reference. Request for extension The time taken to make 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....