ISON BUILDERS LLP Vs. OM SAI RAM COOPERATIVE HOUSINGSOCIETY

JUDGEMENT

(1.) Petitioner-Developer has filed Commercial Arbitration Petition (L) No. 36533 of 2025 seeking interim measures under Ss. 9 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) seeking stay on termination notice dtd. 25/10/2025 by which the First Respondent-Society has terminated the Development Agreement executed by it in favour of the Petitioner. Petitioner has further sought injunction against Respondent No.1-Society and against its members (Respondent Nos.3 to 22) from appointing any other developer to develop the property.

(2.) Commercial Arbitration Application (L.) No. 37280 of 2025 is filed under Sec. 11 of the Arbitration Act for appointment of Arbitrator for adjudication of disputes and differences between the Petitioner and First Respondent-Society.

(3.) The land bearing C.S.No. 109 (Part) situated at D/8, Gandhi Nagar Dainik Shivneri Junction and Majrekar Lane, Lower Parel (West) Mumbai is owned by Municipal Corporation of Greater Mumbai (MCGM). There are 28 tenanted structures on the said land, allottees of which are municipal tenants. Respondent Nos. 3 to 22 claim to be the municipal tenants and have formed Respondent No.1 as the proposed cooperative housing society for the purpose of carrying out development on the land. In the Annual General Meeting held on 29/3/2014, the society resolved to appoint Petitioner as the developer for developing the property. A Development Agreement dtd. 22/12/2014 was executed between the Petitioner and Respondent No.1-proposed Society. The Power of Attorney dtd. 30/12/2014 was also executed in favour of the partners of the Petitioner-Firm.