12.01.2015
1. This is a petition under Section 9 of the Arbitration and Conciliation Act, 1996 ('Act') seeking interim reliefs prior to the commencement of the arbitration proceedings.
2. The Respondent Pravesh Chaturvedi is admittedly the owner of the property at H-39/8, DLF Phase I, Gurgaon, measuring 200 square yards. Petitioners 1 to 4 are the partners of M/s. Apoorv Builders a partnership firm (Petitioner No.5) engaged in the field of building construction and related works, having its registered office in Bhopal.
3. The Petitioners approached the Respondent for development of the aforementioned plot belonging to the Respondent. In terms of the collaboration agreement dated 1st September 2011 executed by the parties, Petitioner No. 5 agreed to redevelop the said plot by constructing the basement, ground floor, first floor and second floor with certain terms and conditions. Significant among the terms and conditions are, clause 5 which states that the construction of the proposed building would be completed O.M.P. No. 1258 of 2014 Page