(1.) Meera Goyal ("Meera" hereinafter) challenges, in this petition under Sec. 34[1] of the Arbitration and Conciliation Act 1996 ("the 1996 Act"), award dtd. 8/5/2020 passed by the learned Sole Arbitrator in an arbitration instituted against Meera by the respondent Priti Saraf ("Priti" hereinafter).
(2.) The learned Arbitrator has awarded Priti Rs.38.00 crores along with interest thereon, @ 9 % p.a. w.e.f., 30/1/2013 till realisation.
(3.) The dispute emanates from an Agreement to Sell (ATS) dtd. 24/12/2011 executed between Meera and Priti. By the said agreement, Priti agreed to purchase 1205.23 sq. yds. of a property owned by Meera situated at 37, Friends Colony (East), New Delhi ("the disputed property"). Meera came into possession of the disputed property vide sale deed dtd. 4/5/2005. The total area of the property, as owned by Meera, was 3930 sq. yds. The following covenants of the ATS are relevant: