- (1.) This First Appeal From Order under Sec. 37 of the Arbitration & Conciliation Act, 1996 (hereinafter referred to as Act, 1996), has been filed by M/s. Indian Oil Corporation Ltd. Against the order of the District Judge, Varanasi dated 23.3.2013, where under Application 20C made by the appellant for the condonation of delay in filing of the application/objection under Sec. 34 of Act, 1996, has been rejected on two grounds: - a) provisions of Sec. 5 of the Limitation Act do not apply in the matter of objection/application to be filed under Sec. 34 of the Act, 1996, b) even if the benefit of Sec. 14 of the Limitation Act is granted to the objector -appellant then also the period taken for filing of the objection under Sec. 34 of the Act, 1996, would be beyond maximum time limit prescribed under Sec. 34 proviso of the Act, 1996.
(2.) Before dealing with the rival contentions raised on behalf of the parties it would be worthwhile to narrate the facts in short.
(3.) An agreement was entered into between Indian Oil Corporation Ltd. and M/s. Vidyawati Construction Company, Allahabad in the matter of construction of office building and road etc. for the LPG Bottling Plant at Varanasi. The agreement admittedly contained an arbitration clause. A dispute was raised by the contracting party leading to the arbitral proceedings which were referred for Arbitrator named by the High Court.;