Arbitration – Claim for Specific performance – Limitation
Limitation – Article 54 of Schedule to the Limitation Act, 1963, applies to any claim for specific performance and period of three commencing from the date fixed for the performance. According to the appellant-claimant, in 1995 the respondents refused to perform their part of the contract by not allowing it to enter into the subject property.
The appellant had knowledge of the breach of the Development Agreement in 1995 itself and therefore, arbitration initiated in 2002 is barred by limitation.
Judgment dated 25.6.2024 of the Division Bench of the Bombay High Court in Commercial Appeal NO.90 of 2020 in Commercial Arbitration Petition No.812 of 2019 of Ivory Properties & Hotels Private Limited Vs. Vasantben Ramniklal Bhuta and others with connected matters.
