‘Section 29-A of Arbitration Act is procedural and discretion is given to parties to extend arbitration period further for 6 months’ ; Madras HC upholds arbitration award passed beyond 12 months
“The legislative intent of inserting Section 29-A of the Act is only for expeditious disposal of the arbitration proceedings and not to confer a new defence upon an unsuccessful party to challenge the award and to reopen the entire proceedings.”