JUDGMENT :

SREENIVAS RAO, J.

1. The appellant filed this COMCA No. 35 of 2022 under Section 13 of the Commercial Courts Act, 2015 R/w Section 37 of the Arbitration and Conciliation Act 1996 (hereinafter referred to as ‘the Act, 1996’) aggrieved by the order dated 12-09-2022 passed by the learned Special Judge, for Trial and Disposal of Commercial Disputes Court, Ranga Reddy District at L.B. Nagar in C.O.P. No. 2 of 2022.

2. For the sake of convenience, hereinafter the parties will be referred to as “petitioner” and “respondents” as they were arrayed before the trial Court.

3. That the respondents in COP No. 2 of 2022 are the absolute owners of the land admeasuring to an extent of Ac.5-02 gts in Sy.Nos.128 and 132 situated at Bachupally Village, Quthbullapur Mandal, Ranga Reddy District. Petitioner and respondents have entered into registered Development Agreement-Cum-General Power of Attorney, herein after called as “DAGPA” vide registration No. 6750 of 2017 dated 30.06.2017 in respect of land to an extent of Ac.4.24.8gts for development of the said land into a gated community with independent villas and another development agreement vide registration document No. 6751 of 2017 in respect of land Ac.00-17.2gts for development of commercial building. While things stood thus, disputes arose between the parties. The respondent Nos.1 and 2 cancelled the development agreement by issuing a legal notice on 10.09.2019. When the petitioner rejected the advances by respondent Nos.1 and 2 for cancellation of the development agreement the respondents have invoked arbitration clause and filed Arbitration Application No. 40/2020 for seeking appointment of Arbitrator before this Hon’ble Court and the same was allowed and 8th respondent herein was appointed as ‘sole Arbitrator’ for adjudication of the disputes between the parties by its order dated 04.08.2020.

4. Before the Arbitral Tribunal the respondents have filed claim petition in Arbitration Application No. 40 of 2020 for seeking the following reliefs:

“(i) Declare the Development Agreement-cum-General Power of Attorney dated 30.06.2017, vide document No. 6750/2017 as invalid and cancelled.

(ii) Direct the Respondent to execute a Deed of Cancellation of the Development Agreement-cum-General Power of Attorney, dated 30.06.2017 vide document No. 6750/2017.

(iii) Direct the Respondent to deliver the possession of the schedule property to the claimants.

(iv) Direct the respondent to pay damages of Rs.2,00,00,000/- (Rupees Two Crores only) for breach of contract.

(v) To award costs of this claim and also to pass an order or orders which this Hon’ble Court deem fit in the circumstances of this case.”

4.1. In the said claim petition the respondents stated that in terms of the DAGPA dated 30-06-2017 the respondents No. 1 & 2 and Late Inturi Lakshmi Prasanna are the owners and they are entitled to 50% of built-up area and the petitioner as developer is entitled for the remaining 50% of the built-up area to be constructed over the said property. The petitioner has agreed to complete the entire project within 30 months with a grace period of 6 months. The petitioner as a professional developer verified such land use in the proposed master plan which is also evident from land use information furnished by Hyderabad Metropolitan Development Authority. The petitioner undertook to obtain required permissions from all the concerned authorities for deletion of 30 meters road from the proposed master plan.

4.2. It is further stated that the petitioner promised to obtain all such required permissions from the concerned authorities and necessary sanction for the construction of the proposed building within a period of 9 months from the date of DAGPA as the respondent No. 1 & 2 and Late Inturi Lakshmi Prasanna have already made necessary application to the Hyderabad Metropolitan Development Authority for deletion of 30 meters road. The petitioner as a professional developer promised to pursue such application before the