ISON BUILDERS LLP vs OM SAI RAM COOPERATIVE HOUSING

Judgment text excerpt

Neeta Sawant COM.ARBP(L)-36533-2025 & COM.ARB.APPLN(L)-37260-2025 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION (L.) NO. 36533 OF 2025 WITH COMMERCIAL ARBITRATION APPLICATION (L.) NO. 37280 OF 2025 ISON Builders LLP ….. PETITIONER/ APPLICANT : VERSUS : Om Sai Ram Cooperative Housing Society (Proposed) & Ors. …. RESPONDENTS Mr. Karl Tamboly with Mr. Rohan Savant, Mr. Chirag Sarawagi and Mr. Yash Sinha i/by. Tushar Goradia, for the Petitioner-Applicant. Mr. Prateek Seksaria, Senior Advocate with Mr. Rohit Agarwal, Mr. Nishant Chothani and Mr. Yash S. Jain, for Respondent Nos.3 to 22. Ms. Pooja Yadav i/b. Ms. Komal Punjabi, for MCGM-Respondent No.2. Mr. Santosh Nachnekar, AO, (I/C) Estate Present. CORAM : SANDEEP V. MARNE, J. JUDGMENT RESD. ON : 13 JANUARY 2026. JUDGMENT PRON. ON : 23 JANUARY 2026. JUDGMENT: 1) Petitioner-Developer has filed Commercial Arbitration Petition (L) No. 36533 of 2025 seeking interim measures under Sections 9 of the Arbitration and Conciliation Act, 1996 (Arbitration Act) seeking stay on termination notice dated 25 October 2025 by which the First Respondent- _____________________________________________________________________________ PAGE NO. 1 of 27 23 JANUARY, 2026 Neeta Sawant COM.ARBP(L)-36533-2025 & COM.ARB.APPLN(L)-37260-2025 Society has terminated the Development Agreement executed by it in favour of the Petitioner. Petitioner has further sought injunction against Respondent No.1-Society and against its members (Respondent Nos.3 to 22) from appointing any other developer to develop the property. 2) Commercial Arbitration Application (L.) No. 37280 of 2025 is filed under Section 11 of the Arbitration Act for appointment of Arbitrator for adjudication of disputes and differenc