DELHI HIGH COURT
PRATHIBA M.SINGH
S Daya Singh & Sons (HUF) – Appellant
Versus
Som Datt Builders Pvt. Ltd. – Respondent
JUDGMENT
Prathiba M. Singh, J. The present petition under Section 34 of the Arbitration and Conciliation Act, 1996 has been filed by Daya Singh & Sons (HUF) and others (hereinafter `owners') against M/s Som Datt Builders Pvt. Ltd. The petition challenges the impugned award dated 13th March, 2010 passed by the Ld. Arbitral Tribunal by 2:1 majority. The Petitioner Nos. 2 and 3 are the son and wife of Late Sh. Daya Singh respectively.
2. The dispute concerns 5, Jantar Mantar Road, New Delhi admeasuring around 2.52 acres (hereinafter `suit property'). The said property was given on lease by the then Chief Commissioner of Delhi to one Sh. Rai Bahadur S. Basakha Singh in 1920 on which a double storied house along with some annexes/out houses were constructed. The property was gifted by Sh. Rai Bahadur Singh to his son Sh. Daya Singh on 7th March, 1956, who then put the suit property in the common stock of the family namely S. Daya Singh & Sons (HUF).
3. M/s Som Datt Builders Pvt. Ltd. (hereinafter `builder') and the owner entered into a MOU dated 9th December, 1988 under which the builder was to raise construction on the suit property as a group housing complex. It was agreed that 40
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