In Brief
Joint owners of land entered into a joint venture agreement with a construction company to develop a residential-commercial complex. The company failed to complete construction within the agreed three-year period and abandoned the project in 1999. After dispute and termination of the agreement, the company sought arbitration. The arbitrator dismissed both claims and counterclaims. The High Court remanded the matter, finding the parties were denied cross-examination opportunity. The Supreme Court reversed the High Court, holding that both parties had consented to dispense with cross-examination and could not later challenge this agreed procedure. The Court restored the arbitrator's award and, in the interest of justice under Article 142, directed the appellants to pay Rs. 45 lakhs to the respondent for resumption of land possession."
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