Arbitration and Conciliation Act, 1996 – Section 34 and 37; Specific Relief Act – Section 28 – Judgment concerns an Execution Petition (E.P.No.4 of 2025) filed by the Award Holder (petitioner) seeking the execution of a Majority Award dated 31.07.2015, which ordered specific performance of a Share Purchase Agreement (SPA) between the petitioner and the Judgment Debtors (respondents), controlling shareholders of Gordon Woodrroffe Limited (GWL). The dispute arose after the respondents terminated the SPA due to alleged encumbrances on GWL’s land.
The petitioner requested specific performance, or alternatively, damages, in arbitration. The Majority Award, challenged by the respondents but upheld by the High Court, Division Bench, and ultimately the Supreme Court, directed the respondents to transfer 93.47% shareholding of GWL to the petitioner, contingent on the petitioner waiving representations and warranties for 24 acres of land.