Y.ANAND KUMAR Vs. LALITHAA JEWELLERY MART

JUDGEMENT

(1.) The present arbitration application is filed under Sec. 11 of the Arbitration and Conciliation Act, 1996 (hereinafter 'the Act, 1996') for appointment of a Sole Arbitrator to resolve the disputes between the parties.

(2.) Heard Mr. Srinivas Velagapudi, learned Counsel for the applicants and Mr. N. Bhujanga Rao, learned Counsel for the respondent.

(3.) The applicants are the owner of land admeasuring 1,266.3 Square yards, H. No. 13/17/85/A/NR situated at Sri Nagar Colony, Gaddiannaram Village, Saroornagar Mandal, R.R. District (hereinafter referred to as 'schedule property'). The applicants and the respondent entered into a lease deed dtd. 5/3/2020 whereby the schedule property was leased out to the respondent.