TaxTMI 
TaxTMI 
2012 (3) TMI 741
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.... the disputes between the appellant and respondent No.1. 2. Bereft of unnecessary details, suffice it to notice for the purposes of the present appeal that by a Charter Party dated October 14, 1987, the respondent No. 1 let its vessel 'MV Ocean Knight' to the appellant for carriage of a cargo of Rock Phosphate in bulk. The disputes arose between the parties in respect of demurrage charges. Clause 56 of the Charter Party which contains arbitration clause, reads as follows: "Clause 56: All disputes arising under this Charter shall be settled in India in accordance with the provisions of the Arbitration Act, 1940 in India, each party appointing an Arbitrator from out of the panel of Arbitrators maintained by the Indian Coun....
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....hat respondent No. 2 - K.P. Patel was the sole arbitrator for deciding the disputes between the appellant and respondent No. 1 and in the alternative revoking the authority of respondent No. 3 as co-arbitrator and for appointment of a new arbitrator in his place. 9. The appellant contested the above petition filed by the respondent No. 1 by filing an affidavit-in reply. Inter alia an objection was raised by the appellant that the petition was beyond the prescribed period of limitation and, was liable to be dismissed on that ground alone. 10. On November 26, 2001, the petition filed by the respondent No. 1 was dismissed in default but later on, it was restored. 11. By the impugned order, the Single Judge revoked the authority of bot....
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....r where the arbitration agreement provides that the reference shall be to a person named or designated in the agreement, requiring that the difference be submitted to the person so named or designated. (4) Where the terms of an agreement to refer future differences to arbitration provide that any claims to which the agreement applies shall be barred unless notice to appoint an arbitrator is given or an arbitrator is appointed or some other step to commence arbitration proceedings is taken within a time fixed by the agreement, and a difference arises to which the agreement applies, the Court, if it is of opinion that in the circumstances of the case undue hardship would otherwise be caused, and notwithstanding that the time so fixed....
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.... No. 1 become entitled to apply for the relief claimed in the application under Sections 5,11 and 12 of the 1940 Act. It is from such date that limitation under Article 137 would begin to run. 18. The High Court in the impugned order has noted that the arbitration proceedings could not reach the desired destination and the two arbitrators became functus officio due to the reason that the time granted for publishing the award had expired. The High Court, further noted that there had been a dead-lock since 1992 when last hearing was held. 19. As noted above, the parties extended the time for passing the award by the arbitrators till March 31, 1993. No extension of time was sought after March 31, 1993. As a matter of fact, respondent No.....