VASANJI ASSARIA MAMANIA vs YADUNARAYAN MULKY SHETTY

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 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”). 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 d