OMTECH BUILDERS P LTD Vs. P M MISRA

JUDGEMENT

(1.) The petitioner has filed the present petition under Sections 14 and 15 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') for termination of the mandate of Arbitrator.

(2.) Brief facts of the case are that on 24th March, 2012, the petitioner had entered into a contract with the respondent for certain civil work comprising of the residential building including the supply of the building material and construction of structure to be built at A-45A, Sector-72, Noida (hereinafter referred to as the 'said property').

(3.) Thereafter, the petitioner sent a legal notice on 1st May, 2015 through its counsel to the respondent for the balance payment of the bills for Rs.22,64,013/- along with interest @18% p.a.