BIOTA NATURAL SYSTEM Vs. LAKE DEVELOPMENT AUTHORITY

JUDGEMENT

(1.) THE petitioner has filed this civil miscellaneous petition under Section 11(6) of the Arbitration and Conciliation Act, 1996, (for short 'the Act') for resolution of the dispute, which has arisen in relation to the Agreement at Annexure -B dated 10.04.2007.

(2.) THE petitioner had entered into the aforesaid agreement with the respondent for the development and maintenance of Agaram Lake located in Sy.No.11 of Agaram, Sarjapura Road, Begur Hobli, Bangalore South Taluk, Bangalore.

(3.) THE respondent issued a notice dated 17.9.2009, cancelling the agreement and forfeiting the security deposit of Rs. 20,44,740/ - and for recovery of the outstanding amount in a sum of Rs. .81,17,360/ - from the petitioner.