NAVIN CHAWLA, J.

1. These petitions have been filed under Section 34 of the Arbitration and Conciliation Act, 1996 challenging the Arbitral Award dated 22.08.2017 passed by the Sole Arbitrator. Sunil Kukreja shall be referred to as the petitioner and North West Sales and Marketing Ltd. shall be referred to as the respondent in the order.

2. The disputes between the parties arose in relation to the Memorandum of Understanding (MOU) dated 12.11.2009. Under the said MOU, the petitioner (Sunil Kukreja) agreed to purchase a space with super area of approximately 10,000 square feet and covered area of 5,000 square feet on the 5th floor of the building being constructed by the respondent (North West Sales And Marketing Ltd.) at plot bearing No.40, Community Centre, Block-A, Paschim Puri, Delhi-110063. The MOU records that the sale consideration for the said allotment is Rs.5 crores. The MOU further records that the respondent has received the entire sum of Rs.5 crores from the petitioner as total sale consideration.

3. It is the case of the petitioner that as the respondent failed to construct the building and especially the 5th floor of the same, the respondent agreed to pay to th