BIMAL CHANDRA ROY Vs. SOBHA GHATAK AND ORS.

JUDGEMENT

(1.) In this application, under Sec. 11 (6) of the Arbitration and Conciliation Act, 1996, the petitioner has prayed for appointment of an arbitrator to adjudicate the disputes between the parties herein, relating to the Memorandum of Agreement dated June 05, 2007 as stated hereinafter.

(2.) The said Memorandum of Agreement dated June 05, 2007(hereinafter referred to as "the said agreement") is a development agreement whereby Dhirangshu Ghatak, since deceased as the owner of premises no. 120, Gangapuri, P.S- Regent Park, Kolkata-700093 (hereinafter referred to as, "the said premises") agreed to develop the said premises through the petitioner by constructing a multistoried building thereat. In the said agreement dated June 05, 2007 said Dhirangshu Ghatak, since deceased was described as "the owner" and the petitioner's proprietorship firm, M/s Raycon was described as "the developer", respectively.

(3.) Clause 25 of the said agreement contemplates that in case of any dispute arising between the parties regarding any affair thereto shall be referred to arbitration of the arbitrators, one each to be appointed by the parties and in case of difference of opinion between them, it shall be referred to an umpire who shall be appointed before the commencement of the arbitration proceeding and whose decision shall be final and binding on the parties.