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TMI Blog2014 (7) TMI 1374X X X X Extracts X X X X X X X X Extracts X X X X ..... 141.60 sq.meters. An addendum of even date recorded the terms of the allotment. The units to be allotted were in a building under construction named by Omaxe "Wedding Mall Agra'. 2. As we would be noting hereinafter, the contract between the parties was more in the nature of an investment made by the Malhotras with a guarantee of a fixed return. 95% sale price fixed was paid immediately and remaining 5% had to be pad when possession was offered. As per clause 26 of the Addendum the construction had to be completed within 30 months, which date would be July 20, 2009. Under the same clause Omaxe had to obtain a certificate of occupation and only thereafter offer possession of the two units. Under the same clause Omaxe agreed to pay Rs. 10/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he property informing that it had leased the same to M/s Aero Club Woodland and informed Malhotras that as per the agreement between it and Malhotras, henceforward Malhotras could receive the lease rental from the tenant. Omaxe demanded 5% balance sale price. As per Malhotras said letter was not to be treated as a letter offering possession for the reason the contract between the parties obliged Omaxe to obtain a completion certificate. The dispute festered. Claims started mounting. Omaxe started demanding maintenance and energy charges as also holding charges and interest on balance sum payable being 5% of the agreed sale price. Malhotras stood their ground that letter offering possession on February 20, 2010 was not as per contract becaus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds interest @ 12% per annum up till May 2011. (iv) A sum of Rs. 15,66,090/- towards arrears of principal amount of monthly return upto 31.5.2011 along with a sum of Rs. 2,34,913.50 towards interest @ 12% per annum up till 31.5.2011. (v) A sum of Rs. 1,04,406/- per month after May, 2011 till the unit is put on rent to a third party by the respondent company and till the said third party starts paying rent to them (claimants), and/or in case the premises is not let out, then the respondent company to continue to pay the aforesaid amount per month. 2. A sum of Rs. 5 lakhs or damages on account of mental and physical harassment. 3. A sum of Rs. 2 lakhs as litigation expenses. 4. Pendentelite and future interest @ 12% per annum." ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Evidence was led. 11. It fell for consideration before the learned Arbitrator as to what was the effect of the appellant offering possession on February 20, 2010. The consideration had to be with reference to the clause in the letter of allotment enjoining upon Omaxe to first obtain a certificate of occupation from the municipal authorities before offering possession and using the unit. 12. The learned Arbitrator held that in view of the fact that the completion was granted by the municipal authorities on March 10, 2010, offering possession on February 22, 2010 was not as per the contract. 13. The learned Arbitrator found as a matter of fact that 5.30 square feet less super area was offered to the respondent and accordingly it woul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allenge an award are restricted under Section 34 of the Arbitration and Conciliation Act,1996. In further appeal against the decision of the learned Single Judge affirming the award, the same arguments are advanced as were advanced before the learned Arbitrator and again before the learned Single Judge when objections to the award were considered. 20. The issue concerning whether there was a subsisting lease between Omaxe and M/s Aero Club Woodland, the learned Arbitrator has considered the documentary evidence to return a finding that no tenancy had ever come into being. The learned Arbitrator had given reasons for the same which have been noted by the learned Single Judge in paragraph 28 and 29 of the impugned decision. 21. Concerning a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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