Excelsior Correspondent
JAMMU, May 2: Coming to the rescue of investors in Palm Island mall, High Court has appointed retired Sessions Judge S S Sarangal as Mediator.
The order to appoint Mediator was passed in a petition filed by Amarnath Choudhary seeking quashment of FIR.
After hearing Senior Advocates Sunil Sethi and UK Jalali and Advocate Vikram Sharma for the petitioners whereas Senior AAG SS Nanda appearing for the State and Advocate Abhinav Sharma appearing for the intervenor, Justice Mohammad Yaqoob Mir observed, “the counsels for the parties have agreed that for resolving the dispute with the investors, there is need for supervision and mediation by some retired District Judge”, adding “S S Sarangal, retired District Judge will act as Mediator and for settling and monitoring the process both owners and developer will furnish the list of the investors for commercial spaces in the mall with exact amount payable and already paid”.
“Any other investor in addition to the intervenors shall also be at liberty if he/she so chooses to appear before the Mediator. The step is aimed at saving the investors from any unnecessary litigation”, High Court said.
“It is also made clear that inter se disputes between the owners and the developer shall be strictly governed by the terms of the agreement as has been executed by them on 29.01.2008 and for resolution of any such dispute in between them, they shall also be at liberty to have resort to Clause 49 of the Agreement”, Justice Mir said.
The Mediator will notify the date for meeting of the parties and finalize the process with promptitude. The court asked the Mediator to submit his report in the week commencing from June 27, 2016. The High Court further said that the proceedings of the case registered by Crime Branch shall remain in abeyance.
Petitioners-Mohini Devi and Amar Nath Choudhary are already released on bail whereas the petitioners No.3 and 4, Radhey Shyam and Kaka Ram shall furnish bail and surety bonds to the tune of Rs1,00,000 each to the satisfaction of Registrar Judicial, the High Court directed.
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