PITTALA ALIAS GAJULA YADAIAH Vs. MOHD ASIF HUSSAIN

JUDGEMENT

(1.) The applicants, 13 in number, seek appointment of a sole Arbitrator, under Section 11(6) of the Arbitration and Conciliation Act, 1996 (for brevity, 'the Act of 1996'), to resolve their claim for a sum of Rs.2,00,00,000/- raised against the two respondents.

(2.) Notice was ordered upon this application on 22.12.2017 and Sri A.Manohar Reddy, learned counsel, entered appearance for the respondents on 02.02.2018. The respondents however did not choose to file a counter contesting this application.

(3.) Applicants 1 to 12 are the owners of an extent of Ac.10.00 guntas of agricultural land in new Sy.No.245 (old Sy.No.73) of Narkhoda Village, Shamshabad Mandal, Ranga Reddy District. They executed an Agreement of Sale-cum-Power of Attorney in favour of applicant 13, after receiving the entire sale consideration, and put him in possession. Applicant 13 was approached by the respondents who claimed that they had the expertise and the financial resources to develop the subject land into open plots/ farm houses with necessary amenities. Thereupon, the applicants and the respondents executed the registered Development Agreement-cum-Power of Attorney dated 11.01.2016, bearing Document No.262 of 2016. The development proposed thereunder was to be completed within a time frame as per Clause 6 of the Development Agreement.