VISHRANTI CHSL Vs. TATTVA MITTAL CORPORATION PVT LTD
HIGH COURT OF BOMBAY
Tattva Mittal Corporation Pvt Ltd
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(1.) Heard through video conferencing.
(2.) The Application is under Section 11 of the Arbitration and Conciliation Act 1996. The Applicant is a Cooperative Society. The Respondent is a developer.
(3.) On 4th March 2010 the Applicant entered into a development agreement with one Yashashree Construction Company ("YCC") for the redevelopment of its property at Second Road, Chembur,
Mumbai 400 071. This development agreement contains within it an
arbitration agreement in Clause 29. That arbitration clause reads
"29. In the event of any dispute arising between the parties hereto in connection with the matters related to the terms of this agreement or the amenities to be provided or undue delay in completing the work etc., it shall be referred as a dispute as defined in the Indian Arbitration Act 1996 and will be referred to the arbitration of a single Arbitrator mutually acceptable to the parties. The decision given by such Arbitrator will be binding on both parties.";
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