SATISH KUMAR BAKSHI Vs. KOHLI REALTORS PVT LTD

JUDGEMENT

(1.) THIS order shall dispose of the Arbitration Petition filed by the petitioner Mr. Satish Kumar Bakshi against M/s. Kohli Realtors Private Limited, under Section 11 of the Arbitration and Conciliation Act, 1996.

(2.) BRIEFLY stated, the facts of the case are that the petitioner is the owner of property bearing Plot No. A-304, Defence Colony, New Delhi, measuring 217 Sq. Yds. The petitioner entered into a collaboration agreement in respect of re-building of his entire property with the respondent M/s. Kohli Realtors Private Limited vide collaboration agreement dated 07.01.2008. According to the collaboration agreement, the respondent agreed to pay a total consideration of '35 lakhs to the petitioner and also to bear the entire cost of construction to be raised on the said building in accordance with the sanctioned plan. The built-up portion of the area was to be shared by the parties in certain proportions after ear-marking common areas, the details of which are given in the agreement itself. The specifications for the construction were given in the collaboration agreement by way of Annexure ,,A which were broadly of class ,,A construction. The time for construction was also enunciated in the collaboration agreement. The relevant clause for our purpose, on the basis of which the present petition has been filed is contained in Clause 22, which reads as under :-

(3.) THE case which has been set up by the petitioner now is that since the respondent has not carried out the construction in accordance with the terms and conditions of the collaboration agreement, he approached the respondent a number of times for rectification of deficiencies who assured him to rectify the same. Since the repeated attempts on the part of the petitioner to get the deficiencies rectified did not yield any fruitful result, he was constrained to issue a notice on 11.05.2010 to the respondent invoking the arbitration clause contained in Clause 22 of the collaboration agreement for reference of the dispute enumerated hereinabove for adjudication by a Sole Arbitrator to be appointed mutually.