JAYRAJ DEVIDAS Vs. NILESH SHANTILAL TANK

JUDGEMENT

(1.) This appeal is directed against the order and judgment dated 30th August, 2013 delivered by the learned Principal District Judge Thane allowing application filed by the respondents under section 9 of the Arbitration and Conciliation Act, 1996. The appellants have challenged the said orders on various grounds raised in the memorandum of appeal.

(2.) Mr.Madon learned senior counsel for the appellants however raises an issue of maintainability of application under section 9 of the Arbitration and Conciliation Act, 1996 itself filed by the respondents on the ground of the memorandum of understanding executed by and between the parties dated 6th August, 2008 being insufficiently stamped. Since both the learned senior counsel have addressed this court on this issue, without going into the other issues raised in the appeal memo and since decision on this issue will have bearing on the disposal of the appeal itself, I will deal with this issue raised by the appellants. Some of the relevant facts for the purpose of deciding this issue are as under:-

(3.) It was case of the respondents herein (original applicants) in their application under section 9 of the Arbitration and Conciliation Act, 1996 that the appellants and the respondents entered into an agreement (MOU) in respect of the suit property by which the appellants granted the developments rights of the suit property inter alia to construct building on certain part of the said property and to obtain TDR in respect of certain area affected as road in development plan of Mira Bhayander Municipal Corporation and other rights in respect of the said property including right to sell the premises in such buildings to be constructed on the said property on the terms and conditions recorded in the said memorandum of understanding dated 6th November, 2008.