M/S A And A Shelters Pvt Ltd v. United Commercial Bank Employees Chsl And 3 ORS

Nitin 973-ARBP-1542-2014

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 1542 OF 2014 M/s. A & A Shelters Private Limited ...

Petitioner

Versus

United Commercial Bank Employees CHS Limited & Ors.

...

Respondents Mr. Omar Shaikh for the Petitioner.

Mr. Sanjay Dubey i/b. S.S. Bangera for Respondent No. 1. Mr. A.L. Patki i/b. Hemant Ghadigaonkar for Respondent Nos. 2 to 4. CORAM : S.J. KATHAWALLA, J.

DATED : 27 TH JANUARY, 2015 P.C.

1.

Heard the learned Advocates appearing for the parties and the following order is passed by consent :

i.

The disputes and differences between the parties arising out of the Redevelopment Agreement dated 18th November, 2010 and Supplementary Agreement dated 6th February, 2014 are referred to the sole Arbitration of Mr. Akash Rebello, Advocate. ii. The parties and their Advocates shall appear before the learned Arbitrator in his chambers, on 29th January, 2015 at 5.30 p.m. and obtain necessary directions.

iii. The learned Arbitrator shall endeavour to pass his Award within a period of four months from the date of the first meeting held by him

Nitin 973-ARBP-1542-2014 with the parties and their Advocates.

iv. The United Commercial Bank Employees Co-operative Housing Society (Respondent No. 1) and its members shall not sell, alienate, encumber, part with possession and / or create third party rights in respect of the Society property and / or the tenements which are in their respective possession till the passing of the Award and a period of four weeks thereafter.

v. This order shall not preclude the Petitioner from retaining possession of the flats / tenements which have already been handed over to the Petitioner by the members of the society. vi. The cost of arbitration shall initially be borne by the parties equally. vii.All contentions of the parties are kept open. viii. The venue of Arbitration shall be at Mumbai. The above Arbitration Petition is accordingly disposed of. (S.J. KATHAWALLA, J.)