V ANANTHA NARAYANAN Vs. GREENPEACE LUXURY HOMES, LLP

JUDGEMENT

(1.) This Original Petition has been filed invoking the provisions of Section 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as "Act") with reference to memorandum of Joint Venture Agreement (hereinafter referred to as "JVA") dated 15.11.2012 entered into between the petitioners and the respondent herein. The petitioners who are the owners of the property, subject matter of the Joint Venture Agreement had desired to develop the property by way of joint development. The respondents had approached the petitioner herein and put across their proposal to construct and market villas in the property and after negotiations, a Memorandum of JVA dated 15.11.2012 was entered into between the petitioners and the respondent herein.

(2.) Whether the invocation of Section 11(6) of the Act without resorting to the conciliation process as contemplated under Clause 13.5 is valid?

(3.) Salient features of the JVA dated 15.11.2012: