NAVEEN TALWAR Vs. ANSAL PROPERTIES & INFRASTRUCTURE LTD

JUDGEMENT

(1.) The petitioner is the owner of property measuring about 2000 sq. yards bearing No. 105, The Mall, Ludhiana. The respondent is carrying on the business as a promoter. Both the parties had entered into a collaboration agreement dated 16.04.2005, as per which the aforesaid property of the petitioner was to be constructed and developed into a building/Retail Mall (Commercial Complex) consisting of apartments/shops which subsequently came to be known as "The Boulevard".

(2.) This agreement was on revenue share basis in the ratio of 48% for the petitioner and 52% for the respondent. It is alleged by the petitioner that the respondent company has committed certain breaches of the said collaboration agreement. It will not be necessary to spell out the allegations of the petitioner in this behalf which are denied by the respondent company. Suffice it to state that the petitioner feels aggrieved and is making certain claims against the respondent, for which the petitioner sent a legal notice dated 25.07.2011 to the respondent company invoking arbitration clause in the collaboration agreement. This collaboration agreement contains an arbitration clause which reads as under:-

(3.) As per this clause, a sole Arbitrator was to be appointed by both the parties. However, they have failed to agree on a common Arbitrator. In such an event, both the parties had to nominate one Arbitrator each and the two Arbitrators were to appoint an Umpire (Presiding Arbitrator). Though both the parties have not nominated their respective Arbitrators, the present petition is filed by the petitioner under Section 11 of the Act, for appointment of the Arbitrator by this Court.