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HIGH COURT OF DELHI
JUDGMENT
APEX BUILDSYS LTD. ..... Petitioner
Advocates who appeared in this case:
For the Petitioner: Mr. Achin Goel, Advocate For the Respondent: Mr. Divya Kr. Kaushik, Mr. Vibhor Bhatia, Mr. Anurag and Ms. Kanika Kaushik, Advocates
1. Petitioner seeks extension of time for conclusion of the arbitration proceedings.
2. It is contended by the petitioner that the arbitration proceedings could not be completed within the stipulated period despite petitioner’s best efforts. It is contended that the concerned Law Officer had resigned and thereafter the concerned official of the petitioner – Shri Naveen Chand Sharma who was well conversant with the project as well as the record met with a serious accident and was bed ridden from 13.04.2018 till end April, 2020 and thereafter could not even attend office on account of his medical 2022:DHC:1324 O.M.P.(MISC.)(COMM.) 124/2021 condition.
3. Further it is contended that on account of financial crunch brought about by the Covid-19, petitioner could not pursue the proceedings.
4. It is stated that a petition was also filed by a creditor before the NCLT and the resolution proceedings were initiated and an Insolvency Resolution Professional was appointed by the NCLT.
5. It is further contended that subsequently said Insolvency Resolution Professional has been appointed as the Liquidator of the plaintiff company and this petition is being pursued through the office of the Official Liquidator.
6. I am satisfied that the petitioner has made out a fit case for grant of extension of time for conclusion of the arbitration proceedings.
7. Accordingly, the time for concluding the Arbitral proceedings is extended by a further period of six months from today.
8. Petition is allowed in the above terms.
SANJEEV SACHDEVA, J APRIL 12, 2022 ‘rs’