REGUS SOUTH MUMBAI BUSINESS CENTRE PRIVATE LIMITED vs MARIE GOLD REALTORS PRIVATE LIMITED

Judgment text excerpt

Neeta Sawant FC-CARB-NO. 439 OF 2024 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO. 439 OF 2024 Regus South Mumbai Business Centre Private Limited ...Petitioner V/s. Marie Gold Realtors Private Limited ...Respondent ______________ Mr. Zal Andhyarujina, Senior Advocate with Ms. Revati Desai, Mr. Manish Dembla, Mr. Muneeb Rashid Malik, Mr. Yash Pitroda, Mr. Digant Bhatt & Ms. Amrita N. i/b Mr. Mayur Shetty c/o. Kochhar & Co., for Petitioner. Mr. Pradeep Sancheti, Senior Advocate with Mr. Pranav Sampat & Ms. Rakshika Bajpai i/b Khaitan & Co.,for Respondent. ______________ CORAM: SANDEEP V. MARNE, J. Reserved On: 14 November 2025. Pronounced On: 25 November 2025. JUDGMENT: THE CHALLENGE 1) This Petition is filed by the Petitioner under the provisions of Section 34 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) challenging the Award dated 18 October 2019 passed by the learned sole Arbitrator. The learned Arbitrator has held the Petitioner to be in breach of the obligations under the terms of Management Agreement in failing to make endeavour to achieve revenue projections in the Business Plan furnished by it to the Page No. 1 of 38 25,November 2025 Neeta Sawant FC-CARB-NO. 439 OF 2024 Respondent and has held that the Respondent is entitled to damages on that account. The learned Arbitrator has accordingly directed Petitioner to pay to the Respondent sum of Rs.10,10,01,000/- by way of damages alongwith interest @ of 12% p.a. from 31 July 2014 till payment and/or realisation alongwith cost of Rs.60,00,000/-. The claims raised by the Petitioner as well as other counter claims raised by the Respondent (except to the extent of award of damages of Rs.10,10,01,000/-) are rejected by the learned Arbi