EMAAR INDIA LTD vs CITRON HOLDING LLP

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Reserved on : 24.02.2025 Pronounced on : 16.05.2025 + O.M.P. (COMM) 548/2024, I.A. 48962/2024 EMAAR INDIA LTD .....Petitioner Through: Mr. Dhruv Rohatgi with Ms. Chandrika Sachdeva and Mr. Dhruv Kumar, Advocates. versus CITRON HOLDING LLP .....Respondent Through: Mr. Ankur Mahindro with Mr. Rohan Taneja, Mr. Mohit Dagar, Mr. Aditya Kapur, Mr. Soumil C. Gonsalves, Mr. Ankush Satija, Mr. Raghav Kalra and Mr. Rohit Bishnoi, Advocates. CORAM: HON'BLE MR. JUSTICE MANOJ KUMAR OHRI JUDGMENT 1. The present proceedings are instituted under Section 34 of the Arbitration & Conciliation Act, 1996 (hereinafter, referred to as the ‘A&C Act’) thereby seeking setting aside of the arbitral award dated 30.08.2024 (hereinafter, ‘impugned award’) delivered by the Arbitral Tribunal comprising of a Sole Arbitrator (hereinafter, ‘AT’). 2. The Petitioner/builder and Respondent/buyer had entered into two Builder Buyer Agreements, both dated 30.12.2008 and pari materia to one another (hereinafter, ‘BBA’), whereby two commercial properties being i) PSQ C-1-F04-009, Unit no. 409, 4th Floor (commercial section), 3. Briefly stated, as per Clause 16(a)(i) of the BBA, t