Pooja Chirag Shah v. Rakesh Satyanarayan Pande
Case brief
What is this about?
ARBP 665/2025, Bombay High Court OOCJ, Somasekhar Sundaresan J, decided April 30, 2026; Section 37 Arbitration and Conciliation Act 1996 appeal against Section 17 arbitral order dated November 4, 2025; Respondent unrepresented; 69 units, 49 pre-contracted, final occupation certificate received; framework for sale of balance 20 units: written notice with consideration and timeline particulars, seven working days to examine and seek clarifications, seven further days to better the offer, superior Respondent terms prevail subject to Tribunal timeline guidance, default completion within indicated timeline with repeat cycle on failure; attendance at completion optional; sale proceeds including instalments into separate escrow account in LLP's name; Tribunal controls escrow operation and utilisation; Impugned Order continues as modified; petition disposed of.
What did the court decide?
The Petition was not adjudicated on merits; it stands disposed of under a protective framework: counsel's submission that 49 of 69 units were contracted for sale before the Impugned Order (with restrictions lifted) taken on record; for the balance 20 units, each offer to be notified in writing with consideration value and completion timeline, seven clear working days for the Respondent to examine and seek clarifications and a further seven working days to better the terms; the Respondent's better offer to match the indicated timelines (difficulties resolved by the Tribunal); superior Respondent terms to prevail subject to Tribunal guidance on timing; absent a conforming response, the Petitioner's transaction to complete within the indicated timeline, failure triggering a repeat cycle for that unit; both parties entitled to be present at completion/execution, non-attendance not blocking completion; all sale proceeds including instalments to a separate escrow account in the name of the Limited Liability Partnership, operated and used per the Learned Arbitral Tribunal's directions; the Impugned Order to continue operating as modified to the extent it balances the parties' interests.