RAJESH AIYAR Vs. SATHYA REDDY

JUDGEMENT

(1.) These petitions are filed seeking appointment of sole arbitrator to adjudicate the dispute between the parties in terms of the relevant clauses contained in the agreements entered into between the parties as enclosed to the petitions.

(2.) Petitioners are the intending purchasers. The 1st respondent is the owner. The 2nd respondent is the developer. There is a joint development agreement entered into by the owner 1st respondent with the developer 2nd respondent dated 27.07.2006. As per the said agreement, the owner has agreed to execute a Special Power of Attorney in favour of the developer to obtain license and sanctioned plan for the purpose of putting up construction on the schedule property and authorizing the developer to represent the owner before the statutory bodies. The owner has agreed to execute necessary documents in this regard. The owner has also agreed to execute the Power of Attorney empowering the developer to sell, develop, convey the constructed area with the corresponding undivided share in the land in the schedule property and to empower the developer to obtain all clearance certificates from the statutory authorities as may be necessary.

(3.) Based on the joint development agreement and the Power of Attorney executed by the owner in favour of the developer, agreements of sale of the undivided share in the land has been entered into by the owner through the Power of Attorney/developer in favour of the present petitioners on various dates. The said agreements of sale are enclosed to the petitions. It is agreed between the parties in terms of agreement of sale that all differences and disputes arising between the parties shall be referred for arbitration to an Arbitrator. The said clause reads as under :