- 1 - NC: 2025:KHC:5370-DB COMAP No. 313 of 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF FEBRUARY, 2025 PRESENT THE HON'BLE MR JUSTICE V KAMESWAR RAO AND THE HON'BLE MR JUSTICE S RACHAIAH COMMERCIAL APPEAL NO. 313 OF 2023 (MON) BETWEEN: 1. M/S CARMATEC IT SOLUTIONS PVT. LTD., HAVING ITS OFFICE AT NO. 27, AMBALIPURA, BELLANDUR GATE, OFF SARJAPUR MAIN ROAD, BANGALROE-560 103 ALSO AT LEVEL 8, CESSNA BUSINESS PARK, TOWER 1, UMIYA BUSINESS BAY, KAVERAPPA LAYOUT, KADUBEESANAHALLI, BANGALORE-560037, REPRESENTED BY : ITS AUTHORIZED SIGNATORY, SRI. AMARNATH .L, MANAGER, M/S CARMATEC IT SOULUTIONS PVT. LTD. NO.27, AMBALIPURA, BELLANDUR GATE, OFF. SARJAPUR MAIN ROAD, BENGALURU-560 103. 2. AROMAL POOZHIKKATTU RAJAGOPAL, MANAGING DIRECTOR, RESIDING AT #2A-601, AKME HARMONY, AMBALIPURA VILLAGE, BELLANDUR ROAD, SARJAPUR SIGNAL, BANGALORE SOUTH-560 103. Digitally signed by PRAJWAL A Location: High Court of Karnataka - 2 - NC: 2025:KHC:5370-DB COMAP No. 313 of 2023 3. INDU AROMAL, DIRECTOR, RESIDING AT NUMBER 2A-601, AKME HARMONY, AMBALIPURA VILLAGE, BELLANDUR ROAD, SARJAPUR SIGNAL, BANGALORE SOUTH-560 103. 4. THOZHUTHUM PARAMBIL RAMACHANDAN PREMANATH, DIRECTOR, R/AT USHUS KUTTY SAHIB LAYOUT, THRIKKAKARA P.O., VADACODE KAILAS COLONY, THRIKKAKARA NORTH, ERNAKULAM-682 021. …APPELLANTS (BY SMT. MONICA PATIL, ADVOCATE) AND: M/S. PUNARVASU SYSTEMS, REPRESENTED BY ITS SOLE PROPRIETOR, MR. DINESH KANALE, HAVING OFFICE AT NO. 823, 9TH MAIN, 4TH ‘B’ CROSS, HAMPINAGARA, RPC LAYOUT, VIJAYANAGARA, BANGALORE-560 104. …RESPONDENT (BY SMT. JYOTHI BHAT, ADVOCATE FOR SRI. VIJAY NARAYAN, ADVOCATE) THIS APPEAL IS FILED UNDER SECTION 13(1A) OF THE COMMERCIAL COURTS ACT 2016 READ WITH ORDER XLIII RULE 1(r) OF THE CODE OF CIVIL PROCEDURE, 1908, PRAYING TO SET ASIDE THE IMPUGNED JUDGMENT AND DECREE DATED JUNE 09, 2023 PASSED BY THE HON’BLE LXXXIV ADDL. CITY CIVIL AND SESSIONS JUDGE, BENGALURU IN COM.O.S.NO.1625/2022 (CCH-85) (ANNEXURE-A) AND CONSEQUENTLY DISMISS THE SUIT OF THE RESPONDENT WITH EXEMPLARY COSTS AND LEGAL EXPENSES AND ETC. - 3 - NC: 2025:KHC:5370-DB COMAP No. 313 of 2023 THIS APPEAL 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) Vide order dated 29.08.2024, the parties herein were referred to the Karnataka Mediation Centre, Bangalore, for exploring a settlement. 2. This Court has received a communication dated 10.01.2025 from the Karnataka Mediation Centre through its Director stating that, the parties have settled their dispute by way of mediation. The Mediation Centre has also filed a settlement agreement in Form No.4 dated 09.01.2025, executed between the appellants and the respondent herein. 3. The Memorandum of settlement has been signed by appellant Nos.1 and 2. The appellant No.2 has also signed on behalf of appellant Nos. 3 and 4 (as a GPA holder). The settlement has been signed by proprietor of the respondent concern. - 4 - NC: 2025:KHC:5370-DB COMAP No. 313 of 2023 4. We find that, Advocates for the appellants and the respondent have also signed the settlement agreement. So also the Director of the Mediation Centre. 5. The settlement agreement also encloses the GPA executed by appellant Nos.3 and 4 in favour of the appellant No.2 herein. The said settlement agreement in the appeal has executed between the parties on 09.01.2025 is taken on record. 6. Appellant No.2 on behalf of all the appellants and proprietor of the respondent concern, who are present in the Court have been identified by their counsel. 7. The counsel and the parties, state that, the parties shall be bound by the terms of the settlement dated 09.01.2025. Their Statement(s) is taken on record. 8. The learned counsel for the parties state that, in terms of the settlement agreement, the amount Rs.34,38,801/- as deposited by the appellants with the Registrar General of this Court in terms of order dated 19.12.2023 be paid to the respondent herein. At this stage the counsel for the appellants state, the accrued interest (if any) on the said amount be also paid to the respondent. - 5 - NC: 2025:KHC:5370-DB COMAP No. 313 of 2023 9. The submission is taken on record. 10. Noting the above said submission(s), in terms of the settlement agreement dated 09.01.2025 and the submission made by the learned counsel for the appellants that, the amount of Rs.34,38,801/- along with interest (if any) thereon, be released to the respondent through its proprietor, Mr.Dinesh Kanale, we direct the release of Rs.34,38,801/- with interest (if any) to Mr. Dinesh Kanale, Proprietor of respondent in the presence of the counsel for the respondent, by taking such documents as are relevant. 11. The appeal is disposed of as settled. 12. Pending I.A.Nos.1/2024 and 2/2024 filed for stay and seeking permission for withdrawal of amount do not survive for consideration and stands disposed of. Sd/- (V KAMESWAR RAO) JUDGE Sd/- (S RACHAIAH) JUDGE SMC List No.: 1 Sl No.: 6