ORDER :

1. Heard Mr. B.Venkat Rama Rao, learned counsel for the applicants and Mr. V.Ravinder Rao, learned Senior Counsel for Mr. P.Sambasiva Rao, learned counsel representing the respondents.

2. This application has been filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (briefly, ‘the 1996 Act’, hereinafter) for appointment of arbitrator i.e., the presiding arbitrator (umpire).

3. Sixteen applicants have joined together and have filed the present application through Sri Ramesh Chand Kalantri who is the special power of attorney holder and authorised person on behalf of the applicants, besides being one of the applicants himself. Each of the applicants are owners and possessors of their respective pieces and parcels of land in all admeasuring Acs.6.08 guntas covered by survey Nos.122 and 138 situated at Nanakramguda Village, Serilingampally Mandal of Ranga Reddy District (referred to hereinafter as ‘larger extent’). The details of ownership and possession of each of the applicants vis-a-vis their respective pieces and parcels of land are mentioned in paragraph 3 of the supporting affidavit.

4. First respondent which was earlier known as Phoenix Embassy Tech Zone Private Limited and now known as ‘Phoenix Tech Zone Private Limited’ (referred to hereinafter as ‘the developer’) is in the business of executing joint ventures in development, construction of multi-storied commercial/Information Technology (IT) buildings and complexes in and around Hyderabad. In the early part of the year 2015, first respondent approached the applicants with a proposal to develop the larger extent as a common project. In the course of several rounds of discussions and deliberations, it was represented by the first respondent that it would develop the larger extent together with land of adjoining land owners into a Special Economic Zone/buildings for the purpose of IT/Information Technology Enabled Services (ITES)/commercial office space as one composite project at its own cost and expenses for the benefit of the stakeholders. This project would cover land beyond the larger extent as it would encompass total land admeasuring about Acs.15.46 cents covered by survey Nos.118(P), 120(P), 121(P), 122(P) and 138(P) of Nanakramguda Village (referred to hereinafter as ‘larger extent project’).

5. First respondent had informed the applicants vide e-mail dated 04.04.2015 that it would construct 2,00,000 square feet of saleable/leasable area per acre in the larger extent project. Applicants were assured that they would be given 25% share or 55,000 square feet per acre in such saleable/leasable built-up area with proportionate share in the common areas/parking etc.

6. Following the same, applicants and respondents entered into a common understanding vide preliminary agreement dated 06.12.2015 which is referred to as ‘term sheet’. In the term sheet, respondents agreed to give the applicants’ share of 55,000 square feet per acre with proportionate car parking space in the larger extent project. It was also agreed upon that the parties would enter into registered development agreements etc., separately with each of the applicants for getting their respective schedule properties to be developed as one unit in the larger extent project.

7. As per the understanding, applicants formed a society under the name and style of ‘JELL - IT Society’ and got it registered under the Telangana Societies Registration Act, 2021.

8. Later on, applicants came to know from other sources that the respondents were taking up construction of the built-up area more than the initial plan/understanding. Immediately, applicants through mail dated 02.04.2019 called upon the respondents to maintain the 25% share or 55,000 square feet per acre. Respondents through reply mail dated 03.04.2019 intimated that they would be planning a slight increase in the project built-up area in high rise buildings though they had not submitted any plan for approval. However, respondents agree