JINAM ARIHANT REALTORS vs NEHA YOGESH SACHDE

Judgment text excerpt

Judgement-ARPL-20865-2023.docx IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Digitally signed by CHAITANYA CHAITANYA ASHOK ASHOK JADHAV ARBITRATION PETITION (L) NO. 20865 OF 2023 JADHAV Date: 2026.02.03 16:49:46 +0530 Jinam Arihant Realtors And Ors. …Petitioners Versus Neha Yogesh Sachde …Respondents Mr. Atul G. Damle, Senior Counsel, i/b Ashish J. Dubey, for the Petitioners. Mr. Shanay Shah, a/w Kumar Kothari, i/b Vohuman Legal, for Respondent. CORAM : SOMASEKHAR SUNDARESAN, J. PRONOUNCED ON : FEBRUARY 3, 2026 ORAL 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 April 29, 2023 ("Impugned Award") by which a Learned Arbitrator has allowed the claim of the Respondent, Neha Yogesh Sachde ("Sachde") against the Petitioners. Petitioner No. 1, Jinam Arihant Realtors Page 1 of 33 February 3, 2026 Judgement-ARPL-20865-2023.docx ("Jinam"), is a partnership firm, of which Sachde owns a 15% partnership interest, while Petitioners No. 2 to 7 hold the remaining 85% partnership interest. 2. Reliefs sought by Sachde included a declaration that Jinam, constituted under the partnership deed dated December 12, 2011 (“Partnership Deed”), was valid and subsisting until it was dissolved with effect from September 27, 2019. Sachde also sought rendering of accounts since inception and until such dissolution or such further date, as the Learned Arbitral Tribunal may deem fit and proper. Various other attendant reliefs, including disclosures, were sought. The Petitioners also filed a counter claim but withdrew the same. 3. Jinam was to develop a building project pursuant to redevelopment of a certain land parcel situated in Goreg