RINKOO AGGARWAL vs GAURAV SABHARWAL & ANR.

Judgment text excerpt

$~2 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of decision: 07th May, 2025 + ARB.P. 1199/2024 RINKOO AGGARWAL .....Petitioner Through: Mr. Aarush Bhandari, Mr. Dev Ahuja and Ms. Simran Jha, Advocates. versus GAURAV SABHARWAL & ANR. .....Respondents Through: Mr. Dhruv Madan and Mr. Shivanshu Gusain, Advocates. CORAM: HON'BLE MS. JUSTICE JYOTI SINGH JUDGEMENT JYOTI SINGH, J. (ORAL) 1. This petition is preferred on behalf of the Petitioner under Section 11(6) of the Arbitration and Conciliation Act, 1996 (‘1996 Act’) for appointment of an Arbitrator to adjudicate the disputes between the parties. 2. The disputes between the parties emanate from a Memorandum of Understanding (‘MoU’) dated 25.11.2013 for purchase of two units ad measuring 2250 sq. ft. each at basic sale price Rs.21,000/- per sq. ft. in the project ‘Lifestyle Street K8’ (Kay Eight), proposed to be developed in Sector-129, Noida Expressway, Noida, by ‘K. Rasa International Pvt. Limited’. Petitioner avers that it was an agreed term of the MoU that in view of the investment made by the Petitioner in K. Rasa International Pvt. Limited, all rights, title and interest in Unit No. B-04-31, Gurgaon Hills, ARB.P. 1199/2024 Page 1 of 16 Signature Not Verified Digitally Signed By:KAMAL KUMAR Signing Date:14.05.2025 15:17:22 Gwal Pahari, Gurugram, Haryana would be transferred in the name of the Petitioner. 3. It is further stated that in furtherance of the MoU, Agreement to Sell was executed between the parties on 13.12.2013, transferring all rights in the apartment in favour of the Petitioner. It was agreed that out of total sale consideration of Rs.4,31,75,999.48, a sum of Rs.1,56,00,000/- would be paid by the Petitioner on or before 30.06.2014 and the balance sum was to be paid directly to the builder. Petitione