Karnataka High Court
M/S L And T Finance Limited vs M/S Buoyant Technology Constellations ... on 22 November, 2024
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COMAP No. 206 of 2021
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 22ND DAY OF NOVEMBER, 2024
PRESENT
THE HON'BLE MR JUSTICE V KAMESWAR RAO
AND
THE HON'BLE MR JUSTICE S RACHAIAH
COMMERCIAL APPEAL NO. 206 OF 2021
BETWEEN:
1. M/S L AND T FINANCE LIMITED
HAVING ITS REGISTERED OFFICE AT
4TH FLOOR, BRINDAVAN #177
CST ROAD, KALINA SANTACRUZ (E)
MUMBAI - 400098.
HAVING ITS CORPORATE OFFICE AT
UNIT NO.1, 3RD FLOOR NO.301
PRIDE HULKUL, NO.16 LALBAGH ROAD,
OPP PASSPORT OFFICE
BENGALURU - 560027.
REPRESENTED BY ITS
AUTHORIZED REPRESENTATIVE
SRI SRUNGAVARAPU VENKATA
Digitally signed
by SATYA SAI KRISHNA
SREEDHARAN
BANGALORE S/O VENKATA RAO
SUSHMA
LAKSHMI AGED ABOUT 25 YEARS
Location: HIGH
COURT OF
...APPELLANT
KARNATAKA (BY SMT. ANUPARNA BORDOLOI, ADVOCATE)
AND:
1. M/S. BUOYANT TECHNOLOGY
CONSTELLATIONS PVT LIMITED
EARLIER KNOWN AS MANTRI TECHNOLOGY
CONSTELLATIONS (P) LIMITED
HAVING ITS REGISTERED OFFICE AT
MANTRI HOUSE
41, VITTAL MALLYA ROAD
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COMAP No. 206 of 2021
BANGALORE - 560001.
REPRESENTED BY ITS
CHIEF EXECUTIVE OFFICER
ANIL KUMAR A
2. MANTRI DEVELOPERS PRIVATE LIMITED
MANTRI HOUSE
41, VITTALMALLYA ROAD
BANGALORE - 560001.
REPRESENTED BY ITS DIRECTOR
MR SUSHIL MANTRI.
...RESPONDENTS
(BY SRI. MAHESH S., ADVOCATE FOR R1;
SRI. ANISH ACHARYA, ADVOCATE FOR R2)
THIS COMAP / COMMERCIAL APPEAL UNDER SECTION
37(1)(B) OF THE ARBITRATION AND CONCILIATION ACT R/W
RULE 4 OF THE HIGH COURT OF KARNATAKA ARBITRATION
(PROCEEDINGS BEFORE THE COURTS) RULES 2001, R/W
SECTION 13(1) OF THE COMMERCIAL COURTS, COMMERCIAL
DIVISION AND COMMERCIAL APPELLATE DIVISION OF HIGH
COURTS ACT, 2015, PRAYING THAT THIS HON'BLE COURT MAY
BE PLEASED TO I. CALL FOR RECORDS IN COM.A.Α.ΝΟ.
192/2021 BY THE LEARNED LXXXVII ADDL. CITY CIVIL AND
SESSIONS JUDGE AT BENGALURU (CCH 88).
II. SET ASIDE THE IMPUGNED ORDER DATED: 02/11/2021
PASSED ON I.A.NOS. 1/2021 FILED UNDER ORDER XXXIX RULE
1 AND 2 R/W SECTION 151 OF CPC AND SECTION 9 OF THE
ARBITRATION AND CONCILIATION ACT, 1996 IN COM.A.A.NO.
192/2021 BY THE LEARNED LXXXVII ADDL. CITY CIVIL AND
SESSIONS JUDGE AT BENGALURU (CCH 88) (ANNEXURE- A)
AND CONSEQUENTLY GRANT AD-INTERIM EX-PARTE ORDERS
AS SOUGHT FOR IN I.A.NOS. 1/2021 FILED UNDER ORDER
XXXIX RULE 1 AND 2 R/W SECTION 151 OF CPC AND SECTION
9 OF THE ARBITRATION AND CONCILIATION ACT, 1996 IN
COM.A.A.NO. 192/2021 BEFORE THE LEARNED LXXXVII ADDL.
CITY CIVIL AND SESSIONS JUDGE AT BENGALURU (CCH 88)
(ANNEXURE-B). III. GRANT SUCH OTHER RELIEF THAT THIS
HON'BLE COURT MAY DEEM FIT IN THE FACTS AND
CIRCUMSTANCES OF THE MATTER.
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COMAP No. 206 of 2021
THIS APPEAL IS COMING ON FOR ORDERS, 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)
Learned counsel for the appellant has filed a memo for
withdrawal. The same is taken on record.
2. The memo for withdrawal reads as under:
"The Petitioner has filed the present appeal
challenging the Impugned Order dated 02.11.2021
passed in I.A. No.1/2021 filed under Order XXXIX
Rule 1 and 2 read with Section 151 of the Code of
Civil Procedure, 1908 and Section 9 of the
Arbitration and Conciliation Act, 1996 in Com.A.A
No. 192/2021 by the Learned LXXXVII Addl. City
Civil and Sessions Judge, at Bengaluru (CCH-88),
grant ad-interim ex-parte orders as sought for in
I.A. Nos.1/2021 filed under Order XXXIX Rule 1
and 2 read with Section 151 of the Code of Civil
Procedure, 1908 and Section 9 of the Arbitration
and Conciliation Act, 1996 in Com.A.A
No.192/2021 by the Learned LXXXVII Addl. City
Civil and Sessions Judge, at Bengaluru, allow
Com.A.A No. 192/2021 filed by the Appellant
under Section 9 of the Arbitration and Conciliation
Act, 1996 and other consequential reliefs.
It is submitted that the Appellant herein has
assigned the loan to Asset Reconstruction
Company (India) Limited (ARCIL) vide an
Assignment agreement dated 29.12.2022 and the
Arbitration proceedings initiated against the
Respondents herein has concluded and an Arbitral
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Award dated 18.06.2024 has been passed by the
Hon'ble Arbitral Tribunal. It is further submitted
that, the Section 9 Application bearing No.
Com.A.A No. 192/2021 filed by the Appellant is
also disposed of.
In light of the same, it is most humbly prayed
before this Hon'ble Court that the Appellant may
be permitted to withdraw the present appeal in
the interest of justice and equity."
3. Learned counsel for the appellants reiterates the
prayer as made in the memo for withdrawal of the appeal. The
appeal is dismissed as withdrawn.
4. In view of the dismissal of the appeal,
I.A.No.1/2022 does not survive for consideration, Accordingly,
the same is disposed of.
Sd/-
(V KAMESWAR RAO)
JUDGE
Sd/-
(S RACHAIAH)
JUDGE
TL
