SNG DEVELOPERS LIMITED Vs. VARDHMAN BUILDTECH PRIVATE LIMITED

JUDGEMENT

(1.) Feeling aggrieved by the judgment dtd. 9/12/2021 passed by the learned Single Judge under Sec. 34 of the Arbitration and Conciliation Act, 1996 (hereafter 'the A&C Act') dismissing the challenge raised to the interim award dtd. 1/11/2021, the appellant has filed the present appeal under Sec. 37 of the A&C Act. Relevant Facts

(2.) The respondent, Vardhman Buildtech Private Limited (hereafter 'Vardhman') filed a Statement of Claims before the Arbitral Tribunal, claiming that they had entered into a Collaboration Agreement dtd. 16/3/2010 for development of the appellant's land situated at P-8, Greater Noida, District Gautam-budh Nagar (U.P.). It claims that it had paid a sum of â " 6.5 crores at the time of execution of the said agreement.

(3.) It is claimed that the appellant, thereafter, decided to sell part of the plot of the said land and entered into an Agreement to Sell dtd. 4/4/2011 for a total sale consideration of â " 7.5 crores.