SUNTECK REALTORS PRIVATE LIMITED Vs. BANDRA SEA BREEZE APARTMENT CO-OPERATIVE HOUSING SOCIETY LIMITED

JUDGEMENT

(1.) This is a Petition filed under Sec. 9 of the Arbitration and Conciliation Act, 1996 ("the Act") in connection with redevelopment of a building envisaged under an instrument titled "Memorandum of Agreed Terms" dated January 29, 2024 ("MOAT") executed between the Petitioner, Sunteck Realtors Private Limited ("Developer") and the Respondent, Bandra Sea Breeze Apartment Co-Operative Housing Society Limited ("Society").

(2.) The redevelopment would cover one building occupied by the members of the Society, comprising 16 flats of 16 members including one terrace flat; two buildings occupied by tenants; and two garages and ancillary structures. The parties had envisaged redevelopment under Regulation 33(7)(B) of the Development Control and Promotion Regulation 2034 and went on to execute the MOAT pursuant to the selection of the Developer in terms of a Tender floated by the Society.

(3.) The Development Agreement to be executed in future would need to be consistent with the MOAT and the terms of the Tender. On September 6, 2025, the Society wrote to the Developer intimating termination of the MOAT ("Termination Notice"). The prayers in the Petition essentially seek an intervention against such termination by staying the implementation and effect of the Termination Notice. The Society resists the Petition on the premise that a new developer has already been appointed.