SURESH KUMAR KAIT
Kailash Nath And Associates – Appellant
Versus
Karvy Stock Broking Ltd – Respondent
JUDGMENT
Suresh Kumar Kait, J. - The present petition has been filed under Sections 11 (6) of the Arbitration and Conciliation Act, 1996 seeking appointment of sole Arbitrator to adjudicate the disputes with respondent.
2. As per the averments made by petitioner, respondent had taken the premises situated at Upper Ground Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi-110001 on rent and had entered into a lease deed with the owners of the abovesaid property on 12.07.2017. Thereafter separate Facilities Agreement was executed between petitioner and respondent on 21.08.2017 wherein respondent requested the petitioner to install and run and maintain an air-conditioning system of 44.5 tonnes capacity, electrical fittings and fixtures, furniture and 85 KVA power back-up at its own cost and expenses in the abovesaid premises and in turn respondent shall pay service charges and GST as applicable to the petitioner. It was also agreed that in case of any delay on the part of respondent in making said monthly payment to the petitioner, respondent shall be liable to pay 1% interest per month to the petitioner. It was also mentioned that in terms of Clause 8 of the said agreement, it
Login now and unlock free premium legal research
Login to SupremeToday AI and access free legal analysis, AI highlights, and smart tools.
Login
now!
India’s Legal research and Law Firm App, Download now!
Copyright © 2023 Vikas Info Solution Pvt Ltd. All Rights Reserved.