Heritage Lifestyles and Developers Private Limited vs Madhugiri Co operative Housing Society Limited

Judgment text excerpt

CARAPL-32740-2024-F.docx IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Digitally COMMERCIAL ARBITRATION PETITION (L) NO. 32740 OF 2024 signed by SHRADDHA SHRADDHA KAMLESH KAMLESH TALEKAR TALEKAR Date: 2025.03.04 Heritage Lifestyles & Developers 14:34:14 +0530 Private Limited ...Petitioner Versus Madhugiri Co-operative Housing Society Ltd. ...Respondent WITH INTERIM APPLICATION (L) NO. 32741 OF 2024 (for stay) IN COMMERCIAL ARBITRATION PETITION (L) NO. 32740 OF 2024 Heritage Lifestyles & Developers Private Limited ...Applicant In the matter of : Heritage Lifestyles & Developers Private Limited ...Petitioner Versus Madhugiri Co-operative Housing Society Ltd. ...Respondent Mr. Venkatesh Dhond, Senior Advocate a/w. Mr. Vaibhav Sugdare, Mr. Saket Mone, Mr. Vishrant Tendulkar, Mr. Prateek Pansare & Mr. Devansh Shah i/b. Vidhii Partners, for Petitioner/Applicant. Mr. Mukesh Vashi, Senior Advocate a/w. Vaishali Sanghavi, Prachi Parmar, Ameet Mehta, i/b Solicis Lex, for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. Reserved on : February 7, 2025 Pronounced on : March 4, 2025 JUDGEMENT : Context and Factual Background: 1. This Petition is an appeal filed under Section 37(2)(b) of the Page 1 of 37 March 4, 2025 Shraddha CARAPL-32740-2024-F.docx Arbitration and Conciliation Act, 1996 (“ the Act”) challenging an order dated October 14, 2024 (“Impugned Order”) passed by a Learned Arbitral Tribunal refusing grant of interlocutory relief sought by the Petitioner in an application filed under Section 17 of the Act. 2. The factual matrix relevant for purposes of this appeal may be summarised as follows:- a) The Petitioner, Heritage Lifestyle and Developers Pvt. Ltd. (“Heritage”) is a Developer while the Respondent, Madhugiri Co-operative Housing Society L