SMT. ALKA CHANDEWAR vs SHAMSHUL ISHRAR KHAN

Judgment-ARBP-19-2015-CP-102-F+.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY 2015. Mr. J.P. Sen, Senior Advocate a/w Mr. Sameer Bhalekar, for the Respondent in CARBP No.19/2015 and for the Petitioner in CP No.102/2015. CORAM : SOMASEKHAR SUNDARESAN, J. RESERVED ON : MARCH 11, 2026 PRONOUNCED ON : APRIL 2, 2026. JUDGEMENT : March 23, 2026 Chaitanya Judgment-ARBP-19-2015-CP-102-F+.doc Context and Factual Background: 1. Commercial Arbitration Petition No. 19 of 2015 is a Petition filed under Section 34 of the Arbitration and Conciliation Act, 1996 (“the Act”), impugning an Arbitral Award dated March 7, 2015, passed by the Learned Arbitral Tribunal (“Impugned Award”), holding that the Respondent, Alka Chandewar (“Alka”), is a partner in a partnership firm named M/s Saras Developers (“Saras Developers”), with an 80% share in Saras Developers, and directing the Petitioner, Shamshul Ishrar Khan (“Khan”) to pay Alka a sum of Rs. 7,39,72,584, which is an amount computed as Alka’s share on dissolution of Saras Developers, along with interest at the rate of 10% per annum, from the date of filing of the reference till the date of the arbitral award and thereafter until realisation. 2. Khan ch