ANSAL PROPERTIES & INFRASTRUCTURE LTD Vs. NAVEEN TALWAR

JUDGEMENT

(1.) M/s Ansal Properties and Infrastructure Ltd. (Developer) has filed this First Appeal impugning judgment dated 23.02.2012 passed by learned Additional District Judge, Ludhiana on petition under Section 9 of the Arbitration and Conciliation Act, 1996 (in short the Act) read with Order 39 Rules 1 and 2 and Section 151 of the Code of Civil Procedure (in short CPC), filed by Naveen Talwar respondent (Owner), thereby injuncting the appellant from creating any third party rights in the suit property i.e. a Mall named The Boulevard' in any manner till adjudication between the parties, if any, by the Arbitrator and implementation of consequent Award, if any.

(2.) There was Collaboration Agreement dated 16.04.2005 (Annexure A-1) between the parties for development of the aforesaid Mall by the appellant on the land owned by the respondent. The appellantDeveloper has 52% share in the said Mall, whereas respondent-Owner has 48% share in the Mall, as per said agreement. It appears that dispute has arisen between the parties regarding allocation of some areas of the Mall, according to their aforesaid shares. The Owner has moved petition under Section 11 of the Act for appointment of Arbitrator, which is said to be pending. The Owner moved petition under Section 9 of the Act read with Order 39 Rules 1 and 2 and Section 151 CPC (Annexure A-12), seeking temporary injunction restraining the Developer from alienating in any manner any part of the Mall and to part with possession of any part of the Mall in favour of third person and from creating third party interest therein, till adjudication of the disputes between the parties by Arbitrator and enforcement of the Award.

(3.) The petition was resisted by the Developer.