Navin Chawla, J. - (1.) Ias 8405-06/2018 Exemption allowed subject to all just exceptions. IA 8407/2018 This is an application seeking declaration that the petitioner has complied with the requirements of Section 34 (5) of the Arbitration and Conciliation Act, 1996. As the respondent has appeared, the compliance of Section 34(5) of the Act is duly noted. Application stands allowed. O.M.P. (COMM) 262/2018 & IA 8404/2018 The petitioner has filed the present petition under Section 34 of Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act') challenging the Arbitral Award dated 17th March, 2018 passed by the Arbitral Tribunal consisting of three Arbitrators. By way of the Impugned Award, the Arbitral Tribunal has inter alia upheld the notice dated 9th April, 2012 terminating the Concession Agreement dated 25th February, 2005 executed between the petitioner and the respondent on the ground of misuse of the space allotted to the petitioner under the Concession Agreement.
(2.) The dispute between the parties is in relation to the Concession Agreement noted above whereby the respondent had granted to the petitioner the right to access, develop, finance, etc. the site at Seelampur Metro Station. The concession period was for 12 years and the possession of the site was handed over to the petitioner on 15th March, 2005.
(3.) It is the case of the petitioner that upon development of the site, the petitioner vide its letter dated 8th August, 2009 forwarded a draft Sub-Licence Agreement that was proposed to be executed by the petitioner with one M/s Ashima Securities Pvt. Ltd. which provided for usage of the space as a banquet hall.;