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Time frame for completing arbitration

Though the law sets a time limit for the arbitrator to pass an award, the period could be extended in one exceptional case, - when both parties consent to do so, the Supreme Court stated in its judgment in Electrical Manufacturing Co vs Power Grid Corporation. If there is no consensus, the arbitrator must complete the proceedings within the time frame. In this case, the time was not kept after disputes arose between Electrical Manufacturing and NTPC over payment for a contract to execute the Rihand-Kanpur transmission line.

The Hon'ble court said "In the circumstances, if the Arbitral Tribunal insisted upon appropriate consent to extend the time, no fault could be found with. At the same time, if respondent No.1 was not willing to give such consent, the Arbitral Tribunal had to go on with the matter and make the award within the statutory period."
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