MAHAVIR DEVELOPERS AND 10 ORS. vs MAHAVIR JAINA VIDYALAYA AND 6 ORS.

CARBP.128.2023.Final.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.128 OF 2023 Shri Mahavir Developers & 10 Ors. ….Petitioners Versus Shri Mahavir Jaina Vidyalaya & 6 Ors. ….Respondents Mr. Darius Khambata, Senior Advocate a/w. Ish Jain, Rajan Yadav, Karan Rukhana, Aditya Pimple, Duj Jain, Krishma Shah, Naomi Ting, Deep Thakkar, i/b Kiran Jain & Co., for Petitioners. Mr. Dinyar Madan, Senior Advocate a/w Ieshan Sinha, Dhruvi Mehta & Yajas Achal, i/b Wadia Ghandy & Co. for Respondent Nos. 1 to 5. CORAM : SOMASEKHAR SUNDARESAN, J. RESERVED ON : March 16, 2026 PRONOUNCED ON : April 6, 2026 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 October 1, 2019, as modified further on October 17, 2019 passed by a Learned Arbitral Tribunal comprising a sole arbitrator ( “Impugned 2. Petitioner No.1, Shri Mahavir Developers (“Developer”) along with its Partners, Petitioner Nos.2 to 11 are aggrieved by the Impugned Award, which holds in favour of Respondent No. 1, Shri Mahavir Jaina Vidyalaya,