CHANDAN HOUSING REPRESENTED BY ITS PARTNER MR.L.UDHAY METHA Vs. RT RENEWABLE INDIA ENERGY PRIVATE LIMITED

JUDGEMENT

(1.) The petitioner seeks appointment of a Sole Arbitrator as per Clause 19.9 of the Memorandum of Agreement dtd. 25/5/2015 (the "Agreement"). The petitioner and respondent entered into the Agreement. In terms thereof, obligations were imposed on the petitioner, who is described as the Developer in the Agreement. The consideration for the petitioner is specified in Clause 5 of the Agreement r/w Schedule-3 thereto.

(2.) It appears that an Addendum to the Agreement was executed on 10/7/2015. The Agreement contains an arbitration clause in Clause 19.9 thereof. Clause 19.9 is set out below:-

(3.) After issuing a demand notice dtd. 6/7/2021 demanding payment of a sum of about Rs.1,89,00,000.00 (Rupees One Crore Eighty Nine Lakhs), the petitioner invoked the arbitration clause by notice dtd. 19/7/2021. The present petition is filed on account of the alleged failure of the respondent to initiate action as called for under such notice.