Ankur Reality Pvt.Ltd. v. Bhatianagar Premises Co-Op.Soc.Ltd.

918.arbp.540.2015.doc dik

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 540 OF 2015 Ankur Realty Pvt. Ltd.

...Petitioner

vs Bhatia Nagar Premises Co-op.Society Ltd.

...Respondent

.....

Mr Rajiv Narula i/b Jhangiani Narula & Associates for the Petitioner. Mr P.M.Shah a/w M.K.Tanna for the Respondent. CORAM : S.C. GUPTE, J.

MAY 07, 2015 P.C. :

Without prejudice to the rights and contentions of the Respondent, the Respondent makes a statement to the Hon'ble Court that for a period of eight weeks from today, it will not transfer, alienate or create third party rights in respect of the subject property or disturb the status-quo existing as of date in respect of the subject matter of this petition. In view of the complaint of the members of the Respondent Society, the Petitioner will temporarily remove the patras installed at the boundary of the subject property. It is clarified that the Board of the Petitioner installed on the subject property will, however, continue.

By consent, all disputes and differences between the Petitioner and Respondent in respect of the subject development agreement dated 2 June 2008 read with consent terms dated 21 October 2011 and supplemental agreement dated 23 February 2012 executed between the Petitioner and the Respondent Society are referred to the Sole Arbitrator, Mr Pradip Sancheti, Sr. Advocate, to be decided in accordance with the provisions of Arbitration and Conciliation Act, 1996 ("the Act"). The arbitration will be conducted at Mumbai. The language of the arbitration will be English. The present Petition filed under Section 9 of the Act shall be treated as an application under Section 17 of the Act and reply and rejoinder would be treated as pleadings in such proceedings.

The Arbitrator shall endeavor to decide the said application as expeditiously as possible and without being influenced by this order.

( S.C.GUPTE J. ) Pg 1 of 1