M/S KMP EXPRESSWAYS LTD vs IDBI BANK LIMITED

Judgment text excerpt

$~53 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 27.01.2026 + O.M.P.(MISC.)(COMM.) 106/2026 M/S KMP EXPRESSWAYS LTD .....Petitioner Through: Mr. Deepak Khurana and Mr. Bhaskar, Advocates. versus IDBI BANK LIMITED .....Respondent Through: Mr. Raunak Dhillon, Ms. Isha Malik and Ms. Bhawna Lakhina, Advocates. CORAM: HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR % J U D G E M E N T (Oral) 1. The present Petition has been filed under Section 29A(4) and Section 29A(5) of the Arbitration and Conciliation Act, 1996 [“the Act”], seeking an extension of the mandate of the learned Arbitral Tribunal by a further period of six months with effect from 11.12.2025. 2. The material on record indicates that the parties entered into a Concession Agreement dated 31.01.2006 [“Concession Agreement”]. The said Concession Agreement is stated to incorporate the project documents to be executed between the parties, one of which was the Substitution Agreement dated 08.01.2007 [“Substitution Agreement”], containing the Arbitration Clause for Signature Not Verified Digitally Signed By:HARVINDER KAUR O.M.P.(MISC.)(COMM.) 106/2026 Page 1 of 5 BHATIA Signing Date:29.01.2026 16:08:06 adjudication of disputes arising therefrom, under the rules of The Indian Council of Arbitration [“ICA”]. 3. Thereafter, disputes arose between the parties, and consequently the Petitioner initiated arbitration proceedings on 09.08.2019 by filing of the Statement of Claim. The Statement of Defense was filed by the Respondent on 27.12.2019. It is stated that ICA vide its e-mail communication dated 15.08.2020 informed the parties that the Arbitral Tribunal stood constituted. 4. It is stated that the pleadings in the arbitration proceedings were completed on 27.12.2019. 5. Before proceeding further, it is ne