KOLKATA METROPOLITAN DEVELOPMENT AUTHORITY Vs. SOUTH CITY

JUDGEMENT

(1.) The present appeal has been preferred under Sec. 37 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the Act'). The appellant seeks setting aside the decree passed by the Hon'ble Single Judge under Sec. 34 of the Act upholding the arbitral award dtd. 22/6/2020 in favour of the claimants/respondents herein. The appellant has been held liable to pay to the respondents the following sums:-

(2.) The brief factual background of the dispute in the present proceedings is that the present appellant namely the Kolkata Metropolitan Development Authority ('KMDA' for short), invited bid for the development of residential-cum-office complexes at two separate locations. The two sites were located near the Ruby General Hospital and Nilachal Co-operative Society Housing Complex along R.B. Connector to Eastern Metropolitan Bypass. The two sites were comprising of lands measuring a total of 132.20 kottahs and 1.487 acres respectively.

(3.) The present two respondents had submitted their bid as a consortium and were declared the selected bidder. A Memorandum of Understanding (MoU) was entered into by the consortium with the appellant on 17/12/2007.