NAVITA SUHAG Vs. DIVINE INFRACON PVT. LTD.

JUDGEMENT

(1.) The above noted three petitions have been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 seeking appointment of Arbitrator for adjudication of disputes pending inter se parties and for grant of cost of petition in favour of the petitioners and against the respondent.

(2.) The background of the case is that petitioners have been allured into investing their hard-earned money on the basis of false promises, misrepresentation by the respondent, who is said to be a Developer constructing commercial complexes, hotels, residential buildings etc. According to petitioners, respondent deceived the petitioners by showing brochure/ prospectus, making false representations and of having false permissions and sanctions from the concerned authorities about the project in question. Respondent assured the petitioners having completed all legal formalities regarding execution of the project and of good monthly return by way of rent of the said premises to be leased on the basis of lock-in period for a period of 18 years or any other period. Thus, the petitioners believing the representations of the respondent, invested their hard-earned money in the properties of respondent.

(3.) In the first captioned petition [ARB.P. 624/2021], petitioner is the owner of Unit No.23-B on the Ground Floor of MTRB situated at the Soul City Mall at Plot No.4, Sector 13, Dwarka City Centre, Dwarka, New Delhi110075. The case of petitioner is that as agreed with respondent, upon payment of a sum of Rs.40,00,000/-(forty Lacks) as sale price pertaining to the Unit No. 23 B, admeasuring Built Up area 9.2903 Sq. Meters ( 100 Sq. Feet) and having super area 18.5806 Sq. Meters (200 Sq. Feet) at ground floor of the plot bearing no. 4 situated at Sector 13 Dwarka New Delhi known as "Soul City Mall", they entered into a "Hotelier Buyer's" agreement dated 11.01.2014.