Vilas Vaibhav Co-Op. Hsg. Soc. Ltd v. Aditya Developers And 2 ORS

by PRASHANT VILAS RANE Date: 2022.02.15 21:15:11 +0530 PRASHANT VILAS RANE

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO.44 OF 2022 Vilas Vaibhav Co-operative Housing Society Limited ..Petitioner Vs.

M/s.Aditya Developers & Ors.

..Respondents ----- Mr.S.A.Abhyankar with Ms.Anjali Neel Helekar and Mr.Anu C.Kaladharan, for the Petitioner.

Mr.Dhananjay R. Singh with Mr.Shailesh Rai, for the Respondents. ----- CORAM : G.S. KULKARNI, J.

DATE : FEBRUARY 09, 2022.

P.C.:

1.

Heard learned Counsel for the parties on this petition filed under Section 9 of the Arbitration and Conciliation Act,1996. 2.

The case of the petitioner is that the disputes and differences between the parties have arisen under the development agreement dated 20 March 2014. Such development agreement came to be terminated by the petitioner as also the power of attorney issued thereunder on 7 March 2019. As seen from the prayer as made in this petition, the primary concern of the petitioner is in regard to the outstanding amount of Rs.6,29,81,430/- which, according to the

petitioner, is due and payable by the respondents as payable to its members under various heads under the agreement in question. 2.

Learned Counsel Mr.Singh appears for the respondents as also a reply affidavit is filed to the petition opposing grant of reliefs. 3.

After having heard the learned Counsel for the parties for some time, learned Counsel for the parties are agreeable that the disputes between the parties be referred for adjudication by appointing an arbitral tribunal.

4.

Mr.Abhyankar, learned Counsel for the petitioner, on instructions of his client, would submit that the petitioner also intends to file a fresh Section 17 application, hence, the present Section 9 application be permitted to be withdrawn, with such liberty to the petitioner. Mr.Singh, learned Counsel appearing for the respondents would not have any objection in that regard. He would submit that the rights and contentions of his clients be expressly kept open. 5.

In the above circumstances, the present petition is required to be disposed of. It is accordingly disposed of by the following order:-

ORDER

(i) Mr.Prashant Chawan, Advocate of this Court is appointed as an arbitrator to adjudicate the disputes and differences between the parties which have arisen under the development agreement dated 20 March 2014.

(ii) The learned prospective sole arbitrator, ten days before entering the arbitration reference, shall forward a statement of disclosure as per the requirement of Section 11(8) read with Section 12(1) of the Arbitration and Conciliation Act,1996, to the Prothonotary & Senior Master of this Court, to be placed on record of this petition with a copy to be forwarded to both the parties; (iii) The fees payable to the arbitral tribunal shall be the fees as per the Fourth Schedule to the Arbitration and Conciliation Act and shall be borne by the parties in equal proportion.

(iv) The petitioner is permitted to withdraw the Section 9 petition with liberty to file a fresh Section 17 application before the Arbitral Tribunal. Needless to observe that the respondents are at liberty to file their reply to any such application which may be filed by the petitioner.

(v) At this stage Mr.Singh would contend that liberty to the respondents to make a counterclaim, be also kept open. It is always open to the respondents to make a counterclaim, as permissible in law. (vi) All contentions of the parties are expressly kept open; (vii) At the first instance, the parties shall appear before the prospective arbitrator within 10 days from today on a date which may be mutually fixed by the prospective sole arbitrator; (viii) The petition is disposed of in the above terms. No costs.

(ix) Office to forward a copy of this order to the learned Arbitrator on the following address:

Mr.Prashant Chawan, Advocate.

17, First floor, Raja Bahadur Compound, 29-41, Tamarind Lane, Fort, Mumbai-400023.

Tel. 22651991, 22700486 M: 9820148457 Email: contact@chawanchambers.com [G.S. KULKARNI, J.]