HOLIAC REALITY LTD Vs. K LAXMAN

JUDGEMENT

(1.) The petitioner and the respondent entered into an agreement to sell in respect of the properties on certain terms and conditions contained in the agreement dated 9/7/2008.

(2.) The case of the petitioner is that respondent has failed to perform his part of the obligation and having committed breach, notices were issued calling upon the respondent to come forward for completion of transaction which respondent failed to comply and instead took frivolous stand.

(3.) It is noticed that there is exchange of correspondence through counsel between the petitioner as well as the respondent Since a dispute has arisen between the petitioner and the respondent in respect of the terms of the agreement the petitioner issued a notice calling upon the respondent to agree to appoint an arbitrator to get the dispute reached before the arbitrator. Since that was not complied the present petition is filed under Section 11 of the Arbitration and Conciliation Act.