HYDERABAD CRICKET ASSOCIATION REP BY ITS HONORARY SECRETARY SRI D S CHALAPATHI Vs. VISAKHA INDUSTRIES LIMITED REP BY ITS AUTHORIZED SIGNATORY SRI K V SOORINARAYANAN

JUDGEMENT

(1.) THIS Civil Miscellaneous Appeal is filed under Section 37(l)(a) of the Arbitration and Conciliation Act, 1996 (for short, "the Act"), against the order passed in Arbitration O.P.No.754 of 2011, dated 16.09.2011, by the Chief Judge, City Civil Court, Hyderabad, whereunder the petition filed by the respondent/petitioner therein for grant of interim injunction restraining the appellant/respondent therein from acting in any way in breach of clauses 2(A) & 2(B) of the Agreement, dated 16.10.2004 etc., was partly allowed.

(2.) THE relevant facts, which are necessary for disposal of the present appeal, are briefly stated as under:- M/s.Visakha Industries Limited, a company incorporated under the Companies Act, 1956 (hereinafter referred to as "the Company"), respondent herein, manufactures Asbestos Cement Sheets, Yarn and Building Boards. THE Hyderabad Cricket Association (hereinafter referred to as "Association"), appellant herein, is a registered society and is an affiliated member of the Board of Control for Cricket in India. THE Association has been established for promoting, organizing, managing and conducting game of Cricket in Hyderabad and for holding various tournaments in cricket including those of Board of Cricket Control in India (BCCI) besides International Cricket matches held in Hyderabad. THE Association proposed to construct an International Cricket Stadium on all that of its leased land admeasuring Ac.16-00 guntas situated at Tarnaka-Uppal Road. THE Association had been making efforts to find a corporate body willing to sponsor or part finance the construction of the new Stadium and in return the Association offers to such party in-Stadium advertising rights and certain other privileges and benefits. It inter alia engaged a third party to act, on commission basis, as agent to persuade a reliable party to come forward and accept the Association's offer as aforesaid. On termination of the contract with the said third party, the Association approached various companies including M/s.Visakha Industries Limited and after discussions and negotiations, an irrevocable agreement was arrived, which was reduced into writing on 16.10.2004. THE relevant clauses of the said agreement are as follows:-

(3.) LEARNED Chief Judge, City Civil Court, after considering the rival contentions of the parties and the documents made as part of the record, allowed the O.P. with the direction as aforementioned. Questioning the same, the present appeal by the Association.