M. MAMOTRA ASSOCIATES Vs. COOPERATIVE SOCIETIES ACT, 1960

JUDGEMENT

(1.) The Petitioner has invoked Section 34 of the Arbitration and Conciliation Act, 1996 (for short, Arbitration Act). The Petitioner, original claimant has challenged Award dated 12 September 2011 passed by the sole Arbitrator, thereby rejected the statement of claim with costs. The operative part of the Award is as under :

(2.) Prayer clauses (a1) and (a2) of the State of Claim are as under :

(3.) Based upon the Development Agreement between the Petitioner, a "developer" and the Respondent, a "owner", after development of the property, respective flats have been sold to the Society and new purchasers. The dispute arose with regard to the right to sell five (5) stilt car parking lots. Clauses 4 and 17 of the Agreement were basis of the claim of the developer. Clause 38 was invoked to resolve the dispute. There was no response and, therefore, this Court by order dated 12 October, 2010, appointed the sole Arbitrator to resolve the dispute between the parties. The arbitration proceedings proceeded accordingly. The learned Arbitrator, after considering the rival contentions as well as the material placed on record, rightly rejected the claim by interpreting the relevant clauses of the Agreement in the following words :