ASHWANI KUMAR KHANNA Vs. RAJESH VERMA

JUDGEMENT

(1.) The petitioner is seeking appointment of an arbitrator under Section 11 of the Arbitration and Conciliation Act.

(2.) The petitioner was a statutory tenant under the respondent in respect of a shop measuring 153.58 sq. ft. situated in property no.1729, Gali No.5, Govind Puri Extension, Kalkaji, Delhi-110019 at a monthly rent of Rs.175/- since 01st July, 1977.

(3.) Vide agreement to sell dated 31st October, 2014, the petitioner agreed to handover the vacant and peaceful possession of the aforesaid shop to the respondent on or before 01st November, 2014 whereupon the respondent agreed to demolish the same and construct a new shop measuring 153.58. sq. ft. in its place on or before 31st March, 2015 and the respondent agreed to sell the said shop to the petitioner for a total consideration of Rs.42,00,000/-. The agreement records that the petitioner paid a sum of Rs.32,00,000/- as advance money in cash to the respondent and the balance sale consideration of Rs.10,00,000/- was agreed to be paid by the petitioner to the respondent at the time of execution of the sale deed. The agreement contains arbitration clause No.14 for reference of disputes between the parties to arbitration.