VPH IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 51 OF 2008 Prithvi Developers Petitioner Vs. Damodar Sadashiv & Ors. (HUF) Respondents Mr. Shailesh Shah with A.L. Patki i/b R. M. Haridas for the petitioner. Mr. S. U. Kamdar with Chetan Kapadia i/b M/s. Laxmi G. Jessani for the respondents for the respondents. CORAM : D.G. KARNIK, J. DATE : APRIL 4, 2008 P.C. P.C. P.C. : 1. Heard counsel for the parties. 2. By memorandum of understanding dated 5th of November 2002 the respondent agreed to sale to the petitioner property in question for sum of Rs.36 lakhs. According to the petitioner in breach of the said memorandum of understanding the respondent is trying to sell the said property to third party. The petitioner has therefore, approached this Court for an interim protection pending appointment of arbitral tribunal. 3. By filing an affidavit-in-reply the respondent has stated that the respondent has already executed a - 2 - deed of conveyance dated 26th February 2008 and has transferred the property in question to M/s. Giriraj Builders for consideration of Rs.70 lakhs. Entire consideration has been received by the respondent by two pay orders, both dated 26th February 2008. 4. In view of the fact that the property in question has already been sold and transferred to a third party M/s. Giriraj Builders, there is no question of granting injunction restraining the respondent from transferring the property. Petitioner is at liberty to take such steps against the third party as the petitioner thinks fit in law. The arbitration petition is accordingly dismssed. Sd/- (D.G. KARNIK, J.)