ANAND CHATURVEDI Vs. PRAVESH CHATURVEDI

JUDGEMENT

(1.) This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996 ('Act') seeking interim reliefs prior to the commencement of the arbitration proceedings.

(2.) The Respondent Pravesh Chaturvedi is admittedly the owner of the property at H-39/8, DLF Phase I, Gurgaon, measuring 200 square yards. Petitioners 1 to 4 are the partners of M/s. Apoorv Builders a partnership firm (Petitioner No.5) engaged in the field of building construction and related works, having its registered office in Bhopal.

(3.) The Petitioners approached the Respondent for development of the aforementioned plot belonging to the Respondent. In terms of the collaboration agreement dated 1st September 2011 executed by the parties, Petitioner No. 5 agreed to redevelop the said plot by constructing the basement, ground floor, first floor and second floor with certain terms and conditions. Significant among the terms and conditions are, clause 5 which states that the construction of the proposed building would be completed within 12 months from the date of sanction of the proposed plans. It further provides that in case of delay of construction beyond 12 months, the period for completion would stand extended to a period of 15 months from the date of sanction of the plans and handing over of the existing building whichever is later after which an amount of Rs.25,000 per month would be payable by the builder to the owner. Clause 11 states that "upon completion of proposed building, the exclusive possession and ownership of the basement and ground floor would vest with the builder and the exclusive possession and ownership of the first floor, second floor and exclusive roof rights above the second floor would vest in the owner, who would be at liberty to raise any construction above the second floor on its own or through anybody, in respect of which builder will not raise any objection."