others reported in. The learned counsel would contend that development agreement is an agreement for transfer of an immovable property and as such the same ... specific performance of the said agreement but also illegal termination of the development agreement and thus reference cannot be said to be not maintainable
prayer is made.
Further prayer is that the notice of termination of the development
agreement should not be given effect to as the agreement ... pending. It appears that the development
agreement has an Arbitration Clause. Any dispute arising from the
development agreement shall be decided by the learned sole
Chakraborty, learned advocate
appearing on behalf of respondent fairly submits, arbitration
agreement is exiting and his client is being thereby dragged
into unnecessary proceedings with ... respondent and Court
having ascertained that disputes arose out of termination of
development agreement where petitioners have claimed for loss
of profit, Court is inclined
been filed.
2
Counsel for the respondent submits that the
development agreement between the parties dated 23rd February, 2004 and
the power of attorney executed ... that even
on cancellation of the parent agreement, namely, the development agreement
herein the arbitration clause survives. Termination and its validity will
be decided
sought an independent reference by invoking the
arbitration clause in the development agreement vide notice dated October
30, 2022, during the pendency of the application ... Court to take up the application for termination of mandate.
49. The jurisdiction clause in the development agreement is quoted below,
which gives jurisdiction
sought an independent reference by invoking the
arbitration clause in the development agreement vide notice dated October
30, 2022, during the pendency of the application ... Court to take up the application for termination of mandate.
49. The jurisdiction clause in the development agreement is quoted below,
which gives jurisdiction
certain consequence or
revocation of the development agreement. In fact, there is no clause in
the entire agreement to indicate the consequences for not complying ... from the side of the respondent with regard to
termination of the said development agreement. Such conduct of the
respondent highlights that the development agreement
original plaint, envisaged a
development agreement to be concluded within a year of the execution of such
memorandum. The development agreement in respect ... only an understanding to enter into a development agreement, they effected
a formal termination in December, 2008 by returning the token
respondents. The
respondents terminated the Development Agreement on 12.2.2019. The
petitioner claims that the respondents however waived the termination and
allowed the petitioner to continue ... party herein executed
the Development Agreement on 12.11.2011 is not in dispute. The dispute
revolves around the termination of the said Agreement. This dispute would
original plaint, envisaged a development agreement to be concluded within a year
of the execution of such memorandum. The development agreement in respect ... only an understanding to enter into a
development agreement, they effected a formal termination in December, 2008 by
returning the token
