KHIMCHAND PRITHVIRAJ KOTHARI Vs. EARTH REALTORS

JUDGEMENT

(1.) This Petition has been filed under Sec. 37 of the Arbitration and Conciliation Act, 1996 ("the Act") challenging the Order dated October 28, 2025 passed by the Learned Arbitral Tribunal under Sec. 17 of the Act ("Impugned Order").

(2.) In terms of the Impugned Order, the Learned Arbitral Tribunal disposed of two Interim Applications, one filed by each of the parties. Effectively, the Learned Arbitral Tribunal stayed the effect, implementation and operation of a notice dated June 4, 2024 ("Termination Notice") issued by the Petitioner, Khimchand Prithviraj Kothari ("Owner") to terminate the Development Agreement dated November 25, 2011 ("Development Agreement") executed with the Respondent, M/s. Earth Realtors ("Developer").

(3.) The Owner's primary grievance is that the Impugned Order was passed as if the Development Agreement in question were a routine Development Agreement, conventionally executed between co-operative housing societies and developers, without appreciating that the very substratum of the Development Agreement which entails the exercise of volition by each party, has been eroded, rendering it impossible to perform.