ELITE HOUSING LLP vs THE SPECTRUM COOPERATIVE HOUSING SOCIETY LIMITED

Judgment text excerpt

F-J-910-CARBP-155-2025.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO.155 OF 2025 Elite Housing LLP ...Petitioner Versus The Spectrum CHS Ltd. ...Respondent Mr. Rohaan Cama a/w. Kyrus Modi & Dipesh Yadav i/b. M/s. Narayanan & Narayanan, Advocates for Petitioner. Mr. Kaevaan Setalvad a/w. Nitin Raut, M/s. G.P. Vas & Son ITA Serrao i/b. P. Vas & Co., Advocates for Respondent No.1. Mr. Aseem Naphade a/w. Rajshree Dhole & Rakshita Poojary i/b. Samatya Legal Associates, Advocates for Respondent No.2. Ms Deepali Bagla i/b. Bagla & Associates, Advocate for Respondent No.3. Mr. Raj Patel a/w. Srividya Venkat & Raghav S. i/b. J Law Associates, Advocates for Respondent No.6. Mr. Vikram Grewal a/w. Nivit Srivastava, Amit Hailkar & Brena Gala i/b. Maniar Srivastava Associates, Advocates for Respondent No.7. Mr. Sahil Saiyed a/w. Mr. Amit Padwal, Advocates for Respondent No.8. Ms Aditi Bhargave a/w. Nitya Shah i/b. Divya Shah Associates, Advocate for Respondent No.9. Mr. Shrichand Lulla, Respondent No.3 present in Court. Digitally signed by ASHWINI ASHWINI JANARDAN JANARDAN VALLAKATI VALLAKATI Date: 2025.04.16 13:11:01 +0530 Page 1 of 16 April 16, 2025 Ashwini Vallakati F-J-910-CARBP-155-2025.doc CORAM: SOMASEKHAR SUNDARESAN, J. RESERVED ON: March 24, 2025 PRONOUNCED ON: April 16, 2025 JUDGEMENT : Context and Background: 1. This is a Petition filed under Section 9 of the Arbitration and Conciliation Act, 1996 (“the Act”) in connection with a Development Agreement dated July 31, 2024 (“ Development Agreement”) between the Petitioner, Elite Housing LLP (“Elite”) and a co-operative housing society i.e. Respondent No. 1, Spectrum Co-operative Housing Society Ltd. (“Spectrum”). The Developme