BRIJ MOHAN BAJAJ AND ORS. vs M S PRIME PROPERTY REALTY

IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 23.04.2026 + O.M.P. (COMM) 501/2024 & I.A. 46321/2024 BRIJ MOHAN BAJAJ AND ORS. .....Petitioners Through: Ms. Megha Saxena, Ms. Rashmi Kaushik & Ms. Shreya Bhatnagar, Advs with P-4 in person. versus M S PRIME PROPERTY REALTY .....Respondent Through: Mr. Sachin Sain, Adv. with R- partner in person. CORAM: HON'BLE MR. JUSTICE AVNEESH JHINGAN AVNEESH JHINGAN, J. (ORAL) 1. This petition is filed under Section 34 of the Arbitration and Conciliation Act, 1996 (for short „the Act‟) against the arbitral award dated 29.07.2024. 2. The brief facts are that the petitioners were the owners of the property bearing Plot No. 97, Block-C, Chander Nagar, Janak Puri, New Delhi-110058. The Collaboration Agreement dated 10.05.2019 (hereinafter referred to as „CA‟) was executed between the parties to the lis. The respondent was required to demolish the existing building and re-construct a new one and in return on payment of Rs. 3.55 crores was to get the first, second, and third floors with roof rights. The petitioners apart from consideration were entitled to fully 2.1 Clause 2 of the CA stipulates that the work was to be completed within twent