Judicial Powers on Time Extension for Arbitral Awards - The Pragmatic Interpretation.

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....Application for extension of time u/s 29A(5) of the Arbitration and Conciliation Act, 1996 can be filed even after the expiry of the period for making the arbitral award. The court has the power to extend the time period for making the award, not the arbitral tribunal. If an award is pronounced during the pendency of an application for extension, the court must still decide the application and may invoke sub-sections (6) to (8) or the relevant provisos of Section 29A(4). While interpreting a statute, an interpretation producing an unreasonable result should be avoided if there is another acceptable, practical, and pragmatic construction.....