AJIT KUMAR SAHA Vs. ANNAPURNA DEVELOPER

JUDGEMENT

(1.) This is an application under Sec. 11 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act') for appointment of an arbitrator. The petitioners, Mr. Ajit Kumar Saha and Sukhen Chandra Saha, are owners of a piece and parcel of land admeasuring about two cottahs and eight chittack lying and situated at Mouza Krishnapur, J.L. No.17, R.S. No. 180, Touzi No. 228/229 comprised in C.S. Dag No. 5083, R.S. Khatian No. 258, within the jurisdiction of Baguiati Police Station at Holding No. R/G/M/162/849 and R/G/M/103/2845 within the local limits of Ward No. 32 of the Rajarhat Gopalpur Municipality in the District of North 24 Parganas [hereinafter referred to as 'the plot'].

(2.) The respondent no.1 is a partnership firm. Respondent no.2 [Mr. Sandip Sen] and no.3 [Mr. Arun Das] are partners in respondent no.1. They are hereinafter collectively referred to as 'the respondents'. Relevant Facts

(3.) The petitioners and respondents entered into a development agreement dated January 3, 2010 with respect to the plot [hereinafter referred to as the 'development agreement']. It was agreed that a four storied building would be built over the plot and the petitioners shall be entitled to get three residential flats on the first floor of the proposed building having carpet area of 750 sq. ft. each.