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IN THE HIGH COURT OF JUDICATURE AT BOMBAY
SANDEEP V. MARNE
Lloyds Realty Developers Limited – Appellant
Versus
Oakwood Asia Pacific Limited – Respondent
| Table of Content |
|---|
| 1. challenge to arbitration award. (Para 1 , 2 , 3 , 4 , 5) |
| 2. arguments against the arbitral award. (Para 6 , 7 , 8 , 9 , 10 , 11 , 12 , 20) |
| 3. court’s analysis of evidence. (Para 14 , 19 , 21 , 22) |
| 4. admissibility of loi terms in contract. (Para 23 , 24 , 36) |
| 5. petition dismissed with costs. (Para 40 , 41 , 42) |
SANDEEP V. MARNE, J.
1) The Petition seeks to challenge Award of the Arbitral Tribunal dated 8 April 2024 under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act). By the impugned Award, the learned sole Arbitrator has dismissed all claims raised by the Petitioner and has awarded costs of Rs.59,85,733.75/- in favour of the Respondent.
2) Petitioner, which was formerly known as Aristo Realty Developers Ltd., is a company incorporated under the Companies Act and engaged in the business of real estate and construction. Petitioner owned Plot No.B, CTS No.1498, A/3 situated off M.V. road, Chimatpada, Marol, Andheri (East), Mumbai- 400056. It was desirous of constructing five star quality hotel/service apartments on the said plot. Respondent is a company incorporated in Labuan and registered in Republic of Singapore. Respondent is eng
Acceptance of delayed performance without complaint waives claims for breach; contemporaneous allegations are required to support contract termination.
The court upheld the Arbitrator's findings that the rescission of the contract was unjust and delays were primarily attributable to the petitioner, affirming the award under Section 34 of the Arbitra....
The court affirmed the limited scope of review under Section 34 of the Arbitration and Conciliation Act, emphasizing respect for arbitral awards unless stark violations of public policy or procedural....
The court emphasized the requirement for the arbitrator to assign reasons in support of the award and the limited scope of interference by the court in arbitration awards.
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