PAREKH HOLDINGS Vs. MOHAMED YUSUF TRUST

JUDGEMENT

(1.) The petitioner claims injunction under Section 9 of the Arbitration and Conciliation Act, 1996 against respondent No.1 who is the trust and respondent Nos. 2 to 7 who are trustees of respondent No.1 trust pending the arbitration invoked by the petitioner against selling, mortgaging, transferring, encumbering, alienating, disposing of or creating any third party rights or granting any development right or parting with possession of the property called Nawab House / Nhava House, 65, Maharishi Karve Road, Mumbai 400 002.

(2.) The parties have entered into a development agreement on 9 th April, 2005 pursuant to the trustees of respondent No.1 Trust having passed a resolution by majority in terms of the deed of trust under which they are appointed inter alia for executing such agreement.

(3.) A resolution has been passed in the meeting of the Trustees dated 9th September, 2004. There are six trustees of respondent No.1 trust. Respondent Nos. 2 to 6 attended the meeting. The respondent No.7 was absent despite notice. All the respondents who attended the meeting except respondent No.6 agreed to execute the development agreement.