The Delhi High Court has held that the time limit for completion of arbitration proceedings, enhanced by amending Section 29A(1) of the Arbitration and Conciliation Act 1996 through the 2019 amendment is applicable to arbitrations pending as on the date of amendment.
Justice J R Midha observed :
“This Court is of the view that amended Sections 23(4) and 29A(1) of the Arbitration and Conciliation Act, being procedural law, would apply to the pending arbitrations as on the date of the amendment.”
The unamended Section 29A(1) of the Arbitration and Conciliation Act, 1996 provides a period of 12 months for the conclusion of arbitration proceedings from the date the Arbitral Tribunal enters upon the reference.
Section 29A(1) was amended with effect from 9th August, 2019 and the time period for conclusion of arbitration proceedings have been extended up to 12 months from the date of completion of pleadings.