N.SATHISH KUMAR
Vijayashanthi Builders Ltd. Rep. by its Director, Alwarpet, Chennai – Appellant
Versus
Lotus Pond Residents Welfare Association Rep. by its President, Kelambakkam, Kancheepuram District – Respondent
(Prayer: Original Petition is filed under Section 34 of Arbitration and Conciliation Act, 1996 for setting aside a portion of the Arbitration award, dated 1.12.2017 and order, dated 9.4.2018 passed under Sec.33 of Arbitration and Conciliation Act, 1996.)
1. This petition has been filed challenging the award of the learned sole Arbitrator granting the following reliefs:
(i) The respondent is directed to pay to the claimant association a sum of Rs.29,65,734/- being the balance amount from the maintenance charges within one month from the date of award, failing which to pay the said amount with interest @ 12% p.a. from the date of award till the date of payment;
(ii) The respondent is directed to pay to the claimant association a sum of Rs.1,00,00,000/- (Rupees one Crore only) within three months from the date of award, failing which to pay the said amount with interest @ 12% p.a. from the date of award till the date of payment;
(iii) The respondent is directed to pay to the claimant association a sum of Rs.1,87,60,000/- being the balance of corpus fund with interest @ 12% from 9.9.2016 till the date of payment;
(iv) The respondent is directed to reimburse to the claimant associa
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