ANANT RAJ LIMITED Vs. RAGHUNATH BUILDERS PVT. LTD.

JUDGEMENT

(1.) Since learned counsel for the respondent/caveator enters appearance, the caveat stands discharged.

(2.) Learned Arbitrator by the Impugned award has inter-alia returned the finding that the period of 60 months stipulated in the agreement commenced from the date of the execution of the agreement and the vacant possession of the land and necessary sanctions were to be obtained within the said period of 60 months from the date of execution of the Agreement. Learned Arbitrator returned a finding that the petitioner had not obtained the necessary sanctions within the period of five years from the date of the agreement and was thus in breach of the agreement. Learned arbitrator further held that the Petitioner is not in joint possession of the project land and no right or interest was created in favour of the petitioner under the agreements.

(3.) The respondent is the owner of a land measuring 27740 sq. yards, commonly known as 'Jaipuria Mill' at 6926, Clock Tower, Subzi Mandi, Delhi.