M/S GAGAN ACE DEVELOPERS THROU. SUSHIL GHANSHYAM AGRAWAL AND ANR vs M/S CHOICE THROU. ATUL MAHADEO BHAGAT AND ORS

Judgment text excerpt

2026:BHC-AS:13526 wp 1298 of 2026.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.1298 OF 2026 M/s. Gagan Ace Developers and Anr. ... Petitioners versus M/s. Choice and Ors. … Respondents Mr. G.S.Godbole, Sr. Advocate with Mr. Sitesh Sharma i/by Mr. Vijay Upadhyay, for Petitioners. Mr. Sandesh Shukla with Dr. Milind Hartalkar i/by Mr. Tejas P. Hartalkar, for Respondent Nos.1 and 2. CORAM: N.J.JAMADAR, J. RESERVED ON : 4 MARCH 2026 PRONOUNCED ON : 18 MARCH 2026 JUDGMENT : 1. Rule. Rule made returnable forthwith, and, with the consent of the learned Counsel for the parties, heard finally. 2. By this Petition under Article 227 of the Constitution of India, the Petitioners take exception to an order dated 25 September 2025 passed by the learned District Judge, Pune, whereby the application for stay to the execution and operation of the award under Section 36 of the Arbitration and Conciliation Act, 1996 (the Act, 1996) came to be partly allowed, subject to the Petitioners – Applicants in the application under section 34 of the Act, 1996 depositing the entire award amount along with interest accrued thereon, till the date of the deposit. 3. The background facts necessary for the determination of this Petition, SSP 1/20 wp 1298 of 2026.doc can be summerized as under : 2.1 The Bombay Society of Franciscan Sister of Marry (R3) – a trust registered under the Maharashtra Public Trusts Act, 1950, was the original owner of the large parcel of land bearing final plot No.153, situated at Village Ghorpadi, within the limits of Pune Municipal Corporation. Respondent No.3 divided the larger land into 16 sub-plots. On 26 January 1980, Respondent No.3 entered into a development agreement with M/s. Choice (R1), a partnership firm, of which Atul M