Karnataka High Court
M/S Nitesh Estates Limited vs M/S. Source Pro Services on 12 November, 2024
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NC: 2024:KHC:45675-DB
COMAP No. 169 of 2022
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 12TH DAY OF NOVEMBER, 2024
PRESENT
THE HON'BLE MR JUSTICE V KAMESWAR RAO
AND
THE HON'BLE MR JUSTICE S RACHAIAH
COMMERCIAL APPEAL NO. 169 OF 2022
BETWEEN:
1. M/S NITESH ESTATES LIMITED
2. NEL HOLDINGS LIMITED
3. NITESH RESIDENCY PVT. HOTEL LTD.
ALL HAVING ITS REGISTERED OFFICE AT:
NITESH TIMESQUARE
7TH FLOOR, NO.8, M G ROAD,
BENGALURU - 560 001.
...APPELLANTS
(BY SRI. CHANDRASHEKHAR S, ADVOCATE)
AND:
Digitally signed
by M/s. SOURCE PRO SERVICES
SREEDHARAN HAVING ITS REGISTERED OFFICE AT
BANGALORE
SUSHMA NO. 25/A, 3RD FLOOR
LAKSHMI
OPP. PRASSIDHI HOTEL
Location: HIGH
COURT OF J.P. NAGAR, 1ST PHASE
KARNATAKA BANGALORE - 560 078.
...RESPONDENT
(BY SRI. SUSHAL TIWARI N, ADVOCATE)
THIS COMAP FILED UNDER SECTION 13(1-A) OF THE
COMMERCIAL COURTS ACT, 2015 R/W SECTION 37(1)(A) OF THE
ARBITRATION AND CONCILIATION ACT, 1996, PRAYING TO SET
ASIDE THE ORDER DATED 30/03/2022 PASSED ON I.A. FILED ON
30.03.2022 PASSED IN COMM. O.S. NO.324/2021 ON THE FILE
OF THE LXXXV ADDITIONAL CITY CIVIL AND SESSIONS JUDGE
(COMMERCIAL COURT) AT BENGALURU (CCH NO. 86).
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NC: 2024:KHC:45675-DB
COMAP No. 169 of 2022
THIS APPEAL, COMING ON FOR ADMISSION, THIS DAY,
JUDGMENT WAS DELIVERED THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE V KAMESWAR RAO
and
HON'BLE MR JUSTICE S RACHAIAH
ORAL JUDGMENT
(PER: HON'BLE MR JUSTICE V KAMESWAR RAO)
1. Joint memo has been filed by the appellants and the
respondent, the same reads as under:
JOINT MEMO
"1. The Appellants and the Respondent in the present
appeal have arrived at an amicable settlement and in
lieu of the settlement, the Appellants have paid an
amount of Rs.5,00,000/- (Rupees Five lakh only) by
way of demand draft bearing DD.No.010126 issued
by Canara Bank, Industrialfin Branch, Bangalore
dated 08.11.2024, in favour of the Respondent as full
and final settlement.
2. In terms of the above settlement the Respondent
who is the Plaintiff in Com.O.S.324/2021, pending
before the Hon'ble LXXXV Add.City Civil And Sessions
Judge (CCH-86), Bangalore has agreed to
unconditionally and irrevocably withdraw the said suit
filed against the Appellants/ Defendants.
3. The Respondent has further agreed that it has no
claims of whatsoever nature against the Appellants.
The Respondent further agrees that the Respondent
or the entities associated with it shall not file any
similar or other proceedings whatsoever in future at
NC: 2024:KHC:45675-DB
any forum against the Appellants or entities
associated with it with respect to the transactions
mentioned in the present appeal.
4. In view of the above settlement, this Hon'ble Court
may be pleased to dispose of the above appeal as
settled and grant such other and further reliefs in the
interest of justice and equity."
2. Learned counsel for the appellants has handed over a
demand draft for an amount of Rs.5,00,000/- to the
representative for the respondent, the details of which
are reflected in paragraph No.1 of the joint memo.
3. Learned counsel for the parties; the representatives
present state that they shall be bound by the terms of
settlement.
4. The settlement is taken on record. The appeal is
disposed of.
Sd/-
(V KAMESWAR RAO)
JUDGE
Sd/-
(S RACHAIAH)
JUDGE
