Ashiana Infrabuild Llp vs M/S S.D. Bhalerao Constructions … on 16 July, 2021

[VIA VIDEO CONFERENCING]

1. Ashiana Infrabuild LLP – the Petitioner herein – by way of the instant
petition under Section 11(6) of the Arbitration and Conciliation Act, 1996
[hereinafter referred to as ‘the Act’], seeks appointment of the Arbitral
Tribunal for adjudication of the disputes arising out of certain agreements
between the parties.

Brief facts:

2. The brief facts that are necessary for the disposal of the present petition
are as follows:

2.1. The parties herein entered into a Joint Venture Agreement dated 24 th

ARB. P. 398/2020 Page 1 of 10
March, 2011 [hereinafter referred to as ‘JVA’] for the re-
development/reconstruction of a residential project in Mumbai.
2.2. As a result of certain issues arising therein, a Cancellation Agreement
dated 1st April, 2017 [hereinafter referred to as ‘CA’] was executed, by
virtue whereof, the JV, along with all the rights and obligations arising
thereunder, stood cancelled.

Source: Indian Kanoon

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