ARUN BHOOMI CORPORATION Vs. JAGRUTI DEVELOPERS

JUDGEMENT

(1.) The captioned Arbitration Petition is filed under the provisions of Sec. 37 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) and impugns an order dtd. 21/6/2024 passed by the Arbitral Tribunal in an Application filed by Respondent Nos. 1 to 5 under Sec. 17 of the Arbitration Act ("the said Application"). Respondent Nos. 1 to 5 ("Jagruti") are the Claimants in the Arbitration and the Petitioners and Respondent Nos. 6(a) to 6(d) are the Respondents in the Arbitration.

(2.) Before adverting to the rival contentions, it is necessary for context, to set out the following facts, viz.

(3.) Mr. Seervai, Learned Senior Counsel appearing on behalf of the Petitioners, at the outset submitted that the Impugned Order ran contrary to the order dtd. 20/2/2020 by which this Court had dismissed the Sec. 9 Petition by expressly recording that it would not be open to Jagruti to press for the reliefs in arbitration. He thus submitted that the order dtd. 20/2/2020 made clear that Jagruti could not in any manner impeded the construction that was being carried out by the Petitioners qua the said project. He submitted that the order dtd. 20/2/2020, confirmed and protected the Petitioners' absolute and unfettered right to (i) continue with the construction and (ii) create third party rights in the said project by way of effecting sales of the units therein. Mr. Seervai submitted that the Impugned Order would clearly affect the Petitioners' unfettered right to carry on the construction and would infact imperil the entire project.