Summary: A court case between ISON Builders and Om Sai Ram Cooperative Housing Society in Mumbai led to the end of a development agreement because of delays. The case was heard on January 23, 2026, with Judge Sandeep V. Marne in charge. The court rejected ISON Builders' request for temporary relief and allowed arbitration to continue.
In Mumbai, ISON Builders was chosen by Om Sai Ram Cooperative Housing Society to develop a property at Lower Parel. The development agreement was signed on December 22, 2014, but not officially recorded. Over the years, delays troubled the project, causing dissatisfaction among the society members.
On October 25, 2025, Om Sai Ram Cooperative Housing Society ended the agreement with ISON Builders because of long delays. They selected Aethon Developers as the new developer. ISON Builders tried to get temporary measures to stop the termination, but the court rejected these requests.
"ISON Builders' proposal remained stuck at initial two stages for 11 long years."
Judge Sandeep V. Marne noted that ISON Builders failed to show they had enough money and delayed important steps in the redevelopment process. The court emphasized that the rights of the society members to have their homes redeveloped were more important than the developer's interests.
Even though the request for temporary relief was denied, the court allowed for arbitration to resolve disputes. Smt. Justice Anuja Prabhudesai was chosen as the only arbitrator to oversee the process.
The society members expressed frustration over the lack of progress. They had been waiting for redevelopment for over a decade, living in rundown buildings. The court acknowledged their right to find a new developer to speed up the process.
ISON Builders' intentions were questioned as they tried to negotiate transferring the project to another developer. This raised concerns about their commitment to the project.
"Attempts on the part of ISON Builders to hand over the project to another developer... indicates that the objective behind retaining the project is merely to sell."
The court's decision highlighted the importance of timely development and the rights of residents in redevelopment projects. While ISON Builders can pursue arbitration, Om Sai Ram Cooperative Housing Society is free to move forward with a new developer to finally achieve their long-awaited redevelopment.
