VINOD D KAMATH Vs. K S N RAJESH

JUDGEMENT

(1.) BY the impugned order, the Arbitrator has over ruled the objections of the petitioner herein and consequently the agreement of sale dated 23.5.2008 is marked as Ex.P8.

(2.) THE records reveal that the agreement of sale was entered into between the parties on 23.5.2008 as per Annexure-B. Petitioner herein is the vendor and respondent No.2 herein was the prospective purchaser. The sale consideration was agreed at Rs.1,96,90,000/-. The Power of Attorney was executed by the second respondent in favour of another person. The entire stamp duty as well as registration charges with regard to General Power of Attorney were paid and the sale deed also came to be executed on 29.9.2011. The entire sale consideration of Rs.1,96,90,000/- was paid to the petitioner. However, on the date of the sale, the entire area was measured in presence of both the parties and it was found that the property was measuring only 9.09 acres and not 12.46 acres. Thus, the sale deed came to be executed in respect of 9.09 acres of land only for Rs.1,43,60,785/- by the Power of Attorney of the petitioner and the stamp duty was also paid for the said sum of Rs.1,43,60,785/-. Since the remaining area of 2.91 acres was not conveyed in favour of respondent No.2 herein the said area of the land was not handed over in favour of respondent No.2. Respondent No.2 approached the Arbitral Tribunal by filing claim petition for recovery of balance of amount paid by him to the petitioner as per arbitration clause contained in the agreement of sale. During the course of evidence, the agreement of sale was sought to be marked by the second respondent. The same was objected to on the ground that the stamp duty is not paid as required in law. Such objection was over- ruled by the impugned order by the Arbitrator.

(3.) IT is needless to observe that the observations made during the course of the impugned order as well as this order shall not influence the Arbitrator while deciding the matter on merits.