LAGUNA RESORT PVT LTD vs CONCEPT HOSPITALITY PVT LTD

Judgment text excerpt

Neeta Sawant FC-CARBP- 19 OF 2024 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION NO. 19 OF 2024 WITH INTERIM APPLICATION NO.1742 OF 2024 IN COMMERCIAL ARBITRATION PETITION NO.19 OF 2024 Laguna Resort Pvt. Ltd. …..Petitioner : Versus : Concept Hospitality Pvt. Ltd. ….Respondent Mr. Ashutosh Kumbhakoni, Senior Advocate with Mr. Mahermosh Humranwala. Mr. Mahesh Menon and Ms. Aakansha Anand i/b. Mahesh Menon & Co., for the Petitioner. Mr. Sumit Rai with Ms. Samrudhi Gholap i/b. Mr. Satyan Israni, for the Respondent. Digitally signed by NEETA NEETA SHAILESH CORAM : SANDEEP V. MARNE, J. SHAILESH SAWANT SAWANT Date: 2025.12.17 15:07:59 RESERVED ON : 05 DECEMBER 2025. +0530 PRONOUNCED ON: 17 DECEMBER 2025. JUDGMENT: 1) By this Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996, (Arbitration Act) the Petitioner has challenged Award of the learned Sole Arbitrator dated 28 November _____________________________________________________________________________ PAGE NO. 1 of 48 17 DECEMBER 2025 Neeta Sawant FC-CARBP- 19 OF 2024 2022. By the impugned Award, the learned Arbitrator has directed Petitioner to pay to the Respondent sum of Rs. 78,09,220/- alongwith interest @ 12% p.a. calculated from due date of each invoice. Petitioner is also directed to pay costs of arbitration of Rs. 21,28,809/. The Arbitral Tribunal has also allowed post award interest @ 14% per annum on the awarded sums. FACTS 2) The Petitioner-Laguna Resorts Private Ltd (Laguna), is an incorporated entity under the Companies Act, 1956, which was formerly known as Hasina Resorts Pvt. Ltd. (Hasina). Petitioner is the owner of land property located at Lonavala. It desired construction of hotel on the land. Pet