Indian High Court marks Apex Realty's dispute with Maldives for arbitration
15 މެއި 2017 | ހޯމަ 13:00Justice Gautam S. Patel of the High Court in Bombay recommended that the case be filed for arbitration, earlier this month
Naadhee, on the of two plots given to Apex Realty to develop flats on
An Indian High Court has ruled that Maldivian government’s termination of the housing contract with the Apex Realty Group be put forth to arbitration.
Justice Gautam S. Patel of the High Court in Bombay ruled earlier this month that the Maldives’ decision to terminate the contract is unlawful and recommended that the case be filed for arbitration.
Further weighing that Apex Realty could face considerable damages due to the termination, Justice Patel had issued a Protective Order, putting forth a number of recommendations to be implemented until a decision is made in the dispute resolution process.
These recommendations, which would provide Apex Realty with an interim solution, are thus:
- That the Maldivian government refrain from reassigning the housing contract to another party.
- That Apex Realty be allowed to continue the project as per the contract.
- That the government refrain from acquiring the plots of land that Apex Realty had been developing from the company.
- That the government be refrain from obstructing or hindering the Apex Realty’s work on the plots in anyway.
Indian arbitration laws stipulate that the case be filed within 90 days of this ruling, therefore Justice Patel had also ordered that Apex Realty forward the case for arbitration by 15th June.
The Maldivian government terminated the contract given to Apex Realty to develop luxury housing unit in two plots of land – Oreon and Naadhee – on the grounds that the company breached it by not commencing work adequately, as dictated in the contract. The government announced its decision on April 19th.
The company, which is a subsidiary of Tata Housing, has refuted this and denied having made any breaches, adding that the housing project had been underway.
