T.G.ARTE CONSTRUCTION Vs. RAJAMMA

JUDGEMENT

(1.) The petitioner, a developer, and the respondents, the owners of certain immovable properties, have entered into the Joint Development Agreement dtd. 5/9/2018, and they have agreed for resolution of disputes by arbitration. They have agreed for constitution of an arbitral Tribunal of three Arbitrators with the petitioner and the landowners nominating their separate Arbitrators and the nominee Arbitrators appointing the third Arbitrator.

(2.) It is obvious from the rival submissions by the learned counsel for the parties that while the petitioner contends that it has almost completed the construction except for the minor works and certain compliances, the respondents assert that construction is yet to be commenced. If the dispute is as regards this, it is also because the petitioner alleges that the respondents have transferred some of the apartments which were agreed to be held back as security for the refundable amount. The necessary ingredients for constitution of the Arbitral Tribunal are established, and at this stage, when queried, the learned counsels submit that this Court could appoint a former Judge of this Court as the sole Arbitrator to enter reference of the dispute and to conduct the arbitral proceedings in the Arbitration and Conciliation Centre (Domestic and International), Bengaluru. Therefore, the following: