AKSHRA TOWNSHIPS PRIVATE LIMITED Vs. L.RENUKA

JUDGEMENT

(1.) This application is filed under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (for short 'the Act') to appoint an arbitrator to resolve the disputes and claims between the applicant and the respondents in terms of Clause 12 of the Development Agreement dtd. 1/1/2018 and Clause 13 of the Development Agreement dtd. 22/12/2018 entered into between the parties.

(2.) It is stated that the applicant is a company registered under the Companies Act and engaged in real estate business, having registered office at Warangal and branch offices in different areas. One of its branch offices is in Siricilla. The applicant executed several projects and completed ventures under the name and style of "Akshara Township Private Limited".

(3.) It is stated that the respondent Nos.1 to 3, having come to know about the successful projects of the applicant, approached the applicant and made a proposal to give the land admeasuring Ac.36.00 situated at Vemulavada for development to the applicant. It was represented by the respondents that the owners of the said land, Sri Govrineni Rajeshwar Rao and others and others, expressed their interest to give their land for development and the respondents No.1 to 3 had been dealing with the said owners. The respondent No.1 is the wife of respondent No.3 and the respondent No.3 had been dealing with the affairs of the respondent No.1.