JUDGMENT

Navin Chawla, J. (Oral)--This petition has been filed under Section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the `Act') challenging the Arbitral Award dated 25.05.2010 passed by the learned Sole Arbitrator.

2. It is the case of the petitioners that by an Agreement to Sell dated 15.11.1996, the petitioners had purchased from the respondent, the basement floor admeasuring approximately 17'x54' sq. ft. of property bearing no. 8/972, in Khasra No. 78 at Govindpuri, Kalkaji, New Delhi-110019 (hereinafter referred to as the `subject property') for a total sale consideration of Rs.2,90,000/-. It was specifically warranted in the Agreement to Sell by the respondent that the subject property is free from all sorts of encumbrances. Clause 3 of the Agreement to Sell provides as under:

"3. That the First Party has assured the Second Party that the said basement is free from all sorts of encumbrances i.e. mortgages, court injunctions, attachments, disputes, gifts, wills, exchanges etc. and if it is ever proved otherwise the First Party shall be liable and responsible for the same."

3. At the time of the handing over of the possession to the petitione