1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY O. O. C. J. ARBITRATION PETITION NO.87 OF 2007 Labha Shubha Properties Pvt. Ltd. ..Petitioner. Vs. M/s. Truly Creative Developers and others ..Respondents. .... Mr. R.D. Soni with Mr. A.R. Shaikh for the Petitioner. Mr. G.N. Salunkhe for Respondent No.1. Ms. Armin Wandrewalla with Ms. Reema Thakkar i/b M/s. Law Charter for Respondent No.2. .... CORAM: DR. D.Y. CHANDRACHUD, J. 11th January, 2008. P.C. : At the hearing of the Arbitration Petition, counsel appearing for the Petitioner and for the First Respondent have agreed to refer the disputes and differences between the parties to arbitration by the Hon'ble Mr. Justice B.N. Srikrishna (former Judge of the Supreme Court of India). The arbitration shall be governed by the Arbitration and Conciliation Act, 1996. On 22nd June, 2007 it was stated before the Court by counsel appearing for Respondent No.1 that in view of the order passed in Suit 1065 of 2007, the First Respondent will not disturb 2 the status quo on possession. Counsel appearing for the First Respondent states that without prejudice to the rights and contentions of the First Respondent, the aforesaid statement shall continue to remain in operation for a period of three months from the date on which the Learned Arbitrator enters upon reference so as to enable the parties to apply for appropriate reliefs before the Learned Arbitrator. It is, however, clarified that since the Second Respondent herein is not a party to the arbitration agreement, the aforesaid directions shall operate as between the Petitioner and the First Respondent. The Arbitration Petition is accordingly disposed of since no other point has been pressed.