(1.) A Joint Venture Development agreement was entered into on 17.01.2007 between the parties in respect of land measuring 27 cents out of one acre and 31 cents purchased by the respondent vide sale deed dated 21.11.2005 in T.S. No. 1167, Block 15, T.S. Ward No. 11 of Sindhupoondurai Village, Tirunelveli Taluk. The said agreement contains clause 31 providing for resolution of disputes through arbitration.
(2.) DISPUTES have arisen inter se the parties resulting in communication dated 22.07.2011 by the petitioner invoking the arbitration and proposing a sole Arbitrator as named in the letter. In reply thereto, vide letter dated 27.07.2011 of the respondent, it was claimed that it is the petitioner who have breached the terms of agreement and that they were ready to resolve the disputes through discussion. Thereafter, vide letter dated 06.09.2011 of the petitioner, allegations were rebutted and again the arbitration clause was invoked, but to no avail.
(3.) DESPITE the lapse of almost 2 1/2 years, no reply was filed and thus, the right to file reply was closed on the last date of hearing on 19.09.2014 and the matter was adjourned to today making it clear that no further adjournment will be granted.