DEEPAK RANA Vs. JAGAT GANGA CHARITABLE TRUST

JUDGEMENT

(1.) The present petition under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter "Arbitration Act") has been filed by the petitioner seeking appointment of a Sole Arbitrator to adjudicate upon the disputes between the parties.

(2.) The petitioner is running a business by the name of Shri Ram Medicos at Delhi and the respondent no. 1 is a trust running a hospital namely, Jagat Ganga Multi Speciality Hospital. The petitioner, upon suggestions of the respondents, agreed to execute a Lease Deed, dtd. 9/3/2017, to start a pharmacy outlet in the Hospital of the respondent no. 1. However, even after a substantial period, the respondents did not commence the construction of the pharmacy as per the agreement between the parties despite submission of the requisite amount.

(3.) The petitioner being aggrieved of the conduct of the respondents, sent several reminders and having received no sufficient response, ultimately, issued the notice dtd. 11/9/2018, invoking Clause 6.4 of the Deed, thereby terminating the Lease Deed. The petitioner also demanded the refundable security amount deposited by him to the tune of Rs.25,00,000.00.