Tilak Nagar Kaveri Co Operative Housing Society Limited v. Mount Blanc Real Estate Pvt Ltd

24-ARBP-114-2025 copy.docx

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 114 OF 2025 Tilak Nagar Kaveri Co-operative Housing Society Limited ... Petitioner Vs.

Mount Blanc Real Estate Pvt. Ltd. & Ors.

... Respondents Digitally signed by SHRADDHA KAMLESH TALEKAR Date:

2025.05.06 22:07:00 +0530 SHRADDHA KAMLESH TALEKAR Mr. Sanjiv Sawant i/b Abhishek Prakash Deshmukh, for Petitioner. Mr. Ronak Utagikar and Adv Mihir Pethe, for Respondent no. 1. CORAM : SOMASEKHAR SUNDARESAN, J.

Date : April 30, 2025 P. C.

1.

Learned Counsel for the Respondent has instructions to state that his client has no desire to hold on to the original papers which are in his possession pursuant to the Development Agreement in question. He submits that his client is present in Court and has brought all the originals physically and he is handing them over to the Petitioner-Society in Court. 2.

The Petitioner-Society shall inspect and examine and confirm if the record handed over is complete. Should there be any difference of opinion as whether all the records have been handed over, the Petitioner shall be April 30, 2025 Shraddha

24-ARBP-114-2025 copy.docx entitled to call upon the Respondent to see the differences highlighted by him and complete the handover effectively. Since by handing over, the Respondent-Developer has indicated his disinterest in the project going forward, it is also expected that the Respondent or any person acting on the Respondent's behalf would not interfere, meddle or obstruct the development of the project that the Petitioner-Society may now undertake with any other developer.

3.

Since, both parties submit that with the aforesaid arrangement, they should discharge each other of any claims and demands, solely for confirmation of all the documents having been handed over, stand over to May 8, 2025 on the Supplementary Board. The parties may bring an executed set of terms of settlement so that the same may be taken on record. The parties shall also execute such reasonable documentation as may be necessary to further assure and evidence the closure of all outstanding issues between them.

4.

All actions required to be taken pursuant to this order, shall be taken upon receipt of a downloaded copy as available on this Court's website. [ SOMASEKHAR SUNDARESAN, J.] April 30, 2025 Shraddha