LLOYDS REALTY DEVELOPERS LTD vs OAKWOOD ASIA PACIFIC LIMITED

Judgment text excerpt

Neeta Sawant 105 carbp 419.24 J os - FC.doc-FC IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.419 OF 2024 Lloyds Realty Developers Limited ....Petitioner V/S Oakwood Asia Pacific Limited ....Respondent ______________________________________________________________ Mr. Navroz Seervai, Senior Advocate with Mr. Tushar Hathiramani, Ms. Lizum Wangdi, Mr. Abhishek Kale, Ms. Shalvika Nachankar, Mr. Aditya Ojha and Ms. Meenakshi Krishna i/b M/s. Naik Naik & Co. for the Petitioner. Mr. Ashishchandra Rao with Mr. Manav Nagpal and Ms. Anuli Mandlik i/b M/s. Economic Law Practice for Respondent. ______________________________________________________________ CORAM : SANDEEP V. MARNE, J. JUDG. RESD. ON: 19 NOVEMBER 2025. JUDG. PRON. ON: 27 NOVEMBER 2025. JUDGMENT: 1) The Petition seeks to challenge Award of the Arbitral Tribunal dated 8 April 2024 under Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act). By the impugned Award, the learned sole Arbitrator has dismissed all claims raised by the Petitioner and has awarded costs of Rs.59,85,733.75/- in favour of the Respondent. PAGE NOS. 1 of 26 27 NOVEMBER 2025 Neeta Sawant 105 carbp 419.24 J os - FC.doc-FC 2) Petitioner, which was formerly known as Aristo Realty Developers Ltd., is a company incorporated under the Companies Act and engaged in the business of real estate and construction. Petitioner owned Plot No.B, CTS No.1498, A/3 situated off M.V. road, Chimatpada, Marol, Andheri (East), Mumbai- 400056. It was desirous of constructing five star quality hotel/service apartments on the said plot. Respondent is a company incorporated in Labuan and registered in Republic of Singapore. Respondent is engaged in the business of planning, designing, de