PARSVNATH DEVELOPERS LIMITED Vs. RAIL LAND DEVELOPMENT AUTHORITY

JUDGEMENT

(1.) Present petition has been filed under Section 11 (6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the "Act") for appointment of a Sole Arbitrator to adjudicate the disputes between the parties.

(2.) The brief facts as averred in the petition are that Respondent invited tenders from private parties for development (including re-development of an existing Railway Colony) of a plot measuring approximately 15.27 hectares situated at Sarai Rohilla, Kishan Ganj, New Delhi (hereinafter referred to as "Project Land") on 18.01.2010 through IL & FS Infrastructure Development Corporation Ltd.

(3.) Respondent represented that Project Land belonged to Indian Railways and the tender was issued to put the land to effective commercial utilization. Project was to be executed through a Special Purpose Vehicle (hereinafter referred to as "SPV") i.e. Petitioner no.2. Project included re-development of existing Railway Colony over 4.37 hectares and development of balance 10.9 hectares.