VASANJI ASSARIA MAMANIA vs YADUNARAYAN MULKY SHETTY

Judgment text excerpt

ARBP-200-2014-J - FINAL.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 200 OF 2014 Vasanji Assaria Mamania …Petitioner Digitally signed by Versus SHRADDHA SHRADDHA KAMLESH KAMLESH TALEKAR TALEKAR Date: Yadunarayan Mulky Shetty …Respondent 2025.10.07 14:49:18 +0530 Mr. Dinyar D Madon, Senior Advocate a/w Mr Ramachandran Narayanan and Mr Ashwin Bhadang i/b Narayanan and Narayanan, for Petitioner. Mr. Farhan Dubash a/w. Rahul Jain i/b VBA Legal, for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. RESERVED ON: JULY 14, 2025 PRONOUNCED ON: OCTOBER 7, 2025 JUDGEMENT: Context and Factual Background: 1. This is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act”) challenging an arbitral award dated May 31, 2013 (“Impugned Award”) passed by a Learned Arbitral Tribunal comprising a Sole Arbitrator in connection with disputes and differences between the Petitioner, Vasanji Assaria Mamania (“Mamania”) and the Respondent, Yadunarayan Mulky Shetty (“Shetty”). Page 1 of 17 October 7, 2025 Shraddha ARBP-200-2014-J - FINAL.doc 2. The parties entered into a memorandum of understanding (“Agreement”) by which Mamania agreed to purchase from Shetty a certain land parcel located in Chembur, described in fuller detail in the Impugned Award, admeasuring 2,493.9 square metres (“ Subject Property”), for a consideration of Rs. 11.25 crores, of which Rs. 50 lakhs were payable at execution; Rs. 1 crore was payable as and when Shetty removed the tenants from the premises and the balance Rs. 9.75 crores against completion of the conveyance. On the face of the Agreement, a date of execution is not discernible and there had been some differences about the precise date although there was no dispute about ex