1 Spb/- IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION PETITION NO. 871 OF 2010 Acme Sthapati Ltd., .. Petitioner. V/s. Dilip Purushottamdas Patel & Ors. .. Respondents. --- Mr.Pravin Samdani, Sr. Counsel a/w. Ms. P.L.Bachani i/by M/s. I.R.Joshi & Co. for the Petitioner. Mr. Vipin Kamdi for the Respondents. --- CORAM : R. M. SAVANT, J. (Vacation Judge) DATE : 12TH MAY, 2010 P.C. 1. This petition is filed under section 9 of the Arbitration and Conciliation Act, 1996, seeking interim reliefs. There is an Agreement for Sale dated 25th of September, 1999 entered into between 2 the Petitioner and the Respondents. Pursuant to the said Agreement for Sale, the petitioner claims to have paid an amount of Rs. One lac to the Respondents. The other amounts were payable contingent on certain events happening. 2. By letter dated 31st March, 2010 the respondents have communicated to the petitioner the termination of the Agreement and the Power of Attorney. Prior to the aforesaid termination the respondents vide their letter dated 11th April, 2010 informed the petitioner of the frustration of the said Agreement for Sale. 3. The said Agreement vide clause 24 provides for arbitration in respect of any dispute arising out of the Agreement. The petitioner has invoked the said clause and has given notice to the arbitrators who are named under the agreement and who were to appoint the third arbitrator so as to constitute an Arbitral Tribunal. The learned 3 counsel for the Respondents does not dispute the position that the said arbitration clause has been invoked by the petitioner. The learned counsel appearing for the Respondents makes a statement that till such time, the Arbitral Tribunal is constituted and for a period of four weeks thereafter, the Respondents would not deal with the property in question in any manner whatsoever. Statement is accepted. 4. After the Arbitral Tribunal is constituted, it would be open for the petitioner to apply to the Tribunal for interim measures. 5. The Arbitration Petition is accordingly disposed of. (R.M.SAVANT. J.) .....