Facts & Background:

• Tata Sons Pvt. Ltd., the Applicant, was a company incorporated under the Indian Companies Act, 1913, and was the Petitioner.
• The first respondent was Siva Industries and Holdings Ltd., a company incorporated under the Companies Act 1956 with its registered office in Chennai. The second Respondent was C. Sivasankaran, the promoter of the first respondent and a resident of Seychelles.
• The Applicant, Tata Tele Services Ltd. (TTSL), the first Respondent, executed a share subscription agreement on 24 February 2006 for issuing shares to the First Respondent.
• On 12 November 2008, Docomo, the applicant, and TTSL executed a second share subscription agreement, under which Docomo acquired 26% of TTSL’s equity through a combination of primary and secondary shares.
• The first Respondent sold TTSL shares to Docomo under a secondary share purchase agreement. Subsequent agreements obliged the Respondent to repurchase the shares pro rata if Docomo exercised its sale option.
• On 7 July 2014, Docomo invoked the sale option under Clause 5.7 of the 2009 Shareholder's Agreement. A dispute arose between the applicant and Docomo, leading to arbitration under the London Council for International Arbitration Rules.
• The Applicant-Petitioner filed a petition under Section 11(6) of the Arbitration and Conciliation Act, 1996, seeking the constitution of an arbitral tribunal in international commercial arbitration. The Supreme Court has exclusive jurisdiction under Section 2(1)(f) of the Arbitration Act.
• By order dated 17 January 2018, the Supreme Court appointed Mr. Justice S.N. Variava as the sole arbitrator, with the parties' consent, in proceedings initiated under Section 11(6) of the Arbitration Act.
• The arbitration proceedings commenced on 14 February 2018, and the parties agreed to extend the award delivery deadline until 14 August 2019. During the pendency of the arbitration, IDBI Bank Ltd. initiated insolvency proceedings against the first respondent, imposing a moratorium on the arbitration.
• On 3 June 2022, the first respondent was released from the Corporate Insolvency Resolution Process (CIRP), prompting the Applicant-Petitioner to file an interlocutory application seeking to continue the arbitration proceedings in light of the amendment to Section 29A.
  
  

Main Issue:

• Does the 12-month time limit under the amended Section 29A (1) of the Arbitration and Conciliation Act, 1996, apply to international commercial arbitrations?
• Whether the amended Section 29A would apply prospectively or retrospectively?