Fri. Apr 23rd, 2021

Kiri Associates P. Ltd. vs Pramod Kumar Mittal And Anr. on 3 July, 2017

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CORAM:
HON’BLE MR. JUSTICE S. RAVINDRA BHAT
HON’BLE MR. JUSTICE YOGESH KHANNA

MR. JUSTICE S. RAVINDRA BHAT

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1. This appeal questions the judgment of a learned single judge
dismissing objections to an arbitration award, preferred by a petition under
Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act” for short,
hereafter). The present appellant (referred to in this judgment as “Kiri”) had
filed the petition, challenging the award of an arbitral tribunal dated
07.11.2014.

FAO(OS)(COMM) 87/2016 Page 1 of 10
2. Kiri had entered into an Agreement to Sell vast stretches of
agricultural land, with the respondent/Claimants, on 01.12.2009. The
agreement stipulated the consideration for land in question as
`12,99,00,000/- and that it was free from all encumbrances, injunctions,
court orders etc. Part payment was made to Kiri. The balance amount of `
11,49,00,000/ was payable on or before 2010. The agreement also provided
that the said amount was to be paid at the time of handing over of the
possession along with execution of Sale Deed in favour of the respondents
or their nominee.

Source: Indian Kanoon

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