ORDER :

P.NAVEEN RAO, J.

Petitioner claims to be the owner of land admeasuring Acs.2.08 guntas in Sy.No.144 of Nanakramguda village, Serilingampally Mandal, Ranga Reddy district. Petitioner entered into Development Agreement-cum-General Power of Attorney, registered on 12.01.2015, in the Office of Joint Sub-Registrar, Ranga Reddy district for construction of complex in the above extent of land. Supplementary Agreement was entered, where under it was agreed that 60% would fall to the share of the developer and 40% to the owner. As per clause-5 of the Development Agreement, respondent agreed to pay Rs.4 crores as interest free refundable deposit. This amount should be refunded on successful completion of the project.

2. It appears, differences arose between the parties to the agreement, resulting in petitioner invoking remedy under Section 9 of the Arbitration and Conciliation Act, 1996 (for short, ‘the Act, 1996’) by filing Arbitration O.P.No.62 of 2021 in the Court of XXIV Additional Chief Judge, City Civil Court, Hyderabad. Respondent filed Arbitration O.P.No.65 of 2021 in the Court of XXIV Additional Chief Judge, City Civil Court, Hyderabad, praying to grant injunction restraining t