Dear sir ,
My client entered into registered joint development agreement for the development of the land into residential complex.
The Developer has paid 10 lakhs and even after 3 yeas not developed and he is interested to develop nor coming forward for cancellation of the said JDA
In the JDA there is clause for arbitration and conciliation if any disputes arises and
There is a one more clause without prejudice to the the right of termination, to go for specific performance.
Please advise me what is the way to cancel the said development agreement
- Is it mandatory to approach with arbitrator by getting appointing him as per the act
- Or can issue legal notice informing developer that JDA is is cancelled and he can take he is money back,etc……..
- Or is there any remedy available