REGISTRAR, CO-OPTV. SOCIETIES, W.BENGAL vs KRISHNA KUMAR SINGHANIA

The Supreme Court addressed the applicability of Sections 95 and 96 of the West Bengal Co-operative Societies Act, 1983, in relation to the Arbitration Act, 1940. The Court held that the Registrar's power to extend the arbitration period is limited to one year, and upon expiration, the arbitrator becomes functus officio, allowing the aggrieved party to seek appointment of a new arbitrator under Section 46 of the Arbitration Act. The Court affirmed the High Court's decision to appoint a new arbitrator, concluding that the arbitration proceedings had abated due to the failure to make an award within the stipulated time frame.