Ankit Mahanot v. MS Royalgolf Link City Projects Pvt Ltd

1. Allowed, subject to all just exceptions. IA No.48156/2024 (Exemption)

2. Application stands disposed of.

3. The present petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as ‘the A&C Act’) seeks certain interim orders in the context of an Allotment-cum-Villa Buyer Agreement entered into between the parties. The said agreement contains an arbitration clause as under:

amendments/modifications thereof for the time being in force. The arbitration proceedings shall be held at an appropriate venue in Delhi/New Delhi with its seat at New Delhi. The sole Arbitrator shall be appointed by the Developer, whose decision shall be final & binding on both parties. Subject to arbitration, the courts at Gautam Budh Nagar and the High Court of Judicature at Allahabad shall have the exclusive jurisdiction to adjudicate upon any dispute between the Developer and the Allotte.”

4. Disputes between the parties have arisen in the context of a demand raised by the respondent towards the final tranche of payment towards consideration for the concerned unit with regard to which, the agreement was entered into between the parties i.e. unit No.VD-66, The Hemisphere Phase – 1, Plot No. Rep-2, Sector 27, Greater Noida.

5. It is the case of learned counsel for the petitioner that the amount demanded has been worked out incorrectly and in fact, a much lesser amount is due and payable. It is averred in paragraph-3 of the petition that as per the petitioner’s calculation, the principal amount is payable is only Rs.35,47,181/- instead of Rs.56,68,517/- (besides interest), as demanded by the respondent.

6. After some hearing, with the consent of respective counsel for the parties, it is directed that the petitioner shall deposit with the respondent, a sum of Rs.35,47,181/- within a period of seven days from today. Subject thereto, the respondent shall be refrained from taking any precipitative steps in respect of the aforesaid unit.

7. Respective counsel for the parties further request that since the existence of arbitration clause is admitted, an independent sole Arbitrator be appointed by this Court in these proceedings itself to adjudicate the disputes between the parties. It is submitted that this joint request is being made in the interest of an expeditious adjudication of the disputes between the parties.

8. Accordingly, as jointly prayed, Mr. Anurag Ojha, Advocate (Mob. No. +91 8860069704) is appointed as the Sole Arbitrator to adjudicate the disputes between the parties.

9. The parties are also in agreement that the present petition be dealt with and decided by the learned Sole Arbitrator under Section 17 of the A&C Act. It is directed accordingly.

10. It shall be open for the arbitrator to pass appropriate orders on the application under Section 17 of A&C Act, without in any manner being influenced by the present order.

11. It is made clear that all rights and contentions of the parties are left open for being considered by the learned Sole Arbitrator on merits.

12. The present petition stands disposed of in above terms.

13. The learned Sole Arbitrator may proceed with the arbitration proceedings subject to furnishing to the parties requisite disclosures as required under Section 12 of the A&C Act.