M/S.Sikora Salvador v. M/S.Golden Prosperous Property

Original Application Nos.565 to 568 of 2016 in O.A.No.774 of 2016 Dr. S.VIMALA, J., The company, M/s. Skiora Salvador International Limited, Represented by its Director, is the Applicant, in all these Applications.

2. Heard the learned counsel appearing for both sides.

3. The Applicant is stated to be the owner of the property in respect of which, there is a Joint Development Agreement, dated 06.10.2010, with the first respondent. Both the first respondent and the Applicant herein has nominated the third respondent as the person, who is put incharge of holding the document pertaining to the property.

4. In view of the dispute between the Applicant and the first respondent, the matter has been referred to Arbitration and the Arbitration Proceedings are pending, with reference to the Joint Development Agreement, dated 06.10.2010. Pending Arbitration Proceedings, these Applications have been filed under Section 9 of the Arbitration and Conciliation Act, 1996, seeking directions to the respondents 1 and 2 to prevent the Applicant from getting the original title deeds from the third respondent.

S.VIMALA, J., srk

5. Since the Arbitration Proceedings are pending in respect of the dispute between the Applicant and the first respondent, the third respondent is directed to deposit all the documents pertaining to these transactions before the learned Arbitrator and the learned Arbitrator shall decide the issue regarding the return of the documents.

6. Already there is an order, dated 20.07.2016, restraining the respondents from creating any third party rights in the schedule mentioned property and that order will continue till the matter is decided by the learned Arbitrator.

6.1. There is also an undertaking on behalf of the Applicant that the Applicant will not change the status-quo prevailing as on date in the schedule mentioned property.

7. In view of the above and recording the undertaking of the Applicant, these Applications are disposed of, with liberty to both the parties to agitate the matter before the learned Arbitrator. 17.03.2017 srk O.A.Nos.565 to 568 of 2016 in O.A.No.774 of 2016

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