- 1 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF FEBRUARY, 2025 PRESENT THE HON'BLE MR JUSTICE V KAMESWAR RAO AND THE HON'BLE MR JUSTICE T.M.NADAF MISCELLANEOUS FIRST APPEAL NO. 8776 OF 2023 BETWEEN: ALUPLEX INDIA PVT. LTD., A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT: R-602, (OFFICE BLOCK), T.T.C. INDUSTRIAL MIDC, RABALE, NAVI MUMBAI-400 701. REPRESENTED BY ITS DIRECTOR MR.NAVIN KESWANI. …APPELLANT (BY SRI.VARUN S., ADVOCATE) AND: 1. NITESH RESIDENCY HOTELS PVT. LTD., A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, REGISTERED OFFICE AT: LEVEL-4, ‘B’ WING, THE RITZ CARLTON HOTEL 99, RESIDENCY ROAD, BANGALORE-560 025. ALSO HAVING OFFICE AT: NO.25A, IMPERIAL COURT, 2ND FLOOR, CUNNINGHAM ROAD, BENGALURU-560 052. REP. BY ITS AUTHORIZED REPRESENTATIVE MR.SWAMY K.B. Digitally signed by K G RENUKAMBA Location: High Court of Karnataka - 2 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 2 SRI. JUSTICE S. VENKATARAMANA, PRESIDING ARBITRATOR, NO.161, II BLOCK, 3RD STAGE, WEST OF CHORD ROAD, JUDGES COLONY, BASAVESWARANAGAR, BENGALURU – 560 079. 3 SRI. JUSTICE S.R. VENKATESH MURTHY, CO-ARBITRATOR, NO.293, 7TH CROSS, 2ND MAIN, 1ST BLOCK, R.T. NAGAR, BENGALURU- 560 032. 4 SRI. JUSTICE V. JAGANNATHAN, CO-ARBITRATOR, NO.221, SRI RANGA NIVAS, 469, 11TH CROSS, 4TH BLOCK, BANASHANKARI III STAGE, BENGALURU – 560 085. (NOTE: RESPONDENTS NO. 2 TO 4 ARE FORMAL PARTIES. …RESPONDENTS (BY SRI. VIVEK HOLLA, ADVOCATE FOR R1 ) THIS MFA FILED UNDER SECTION 37(1)(C) OF THE ARBITRATION AND CONCILIATION ACT, AGAINST THE ORDER DATED 03.02.2020 PASSED IN A.S.NO.119/2018 ON THE FILE OF THE III ADDITIONAL CITY CIVIL AND SESSIONS JUDGE, BENGALURU CITY (CCH NO.25), AND DISMISSING THE SUIT FILED UNDER SECTON 34 OF THE ARBITRATION AND CONCILIATION ACT, 1996. THIS APPEAL COMING ON FOR ORDERS ALONG WITH IA NO.2/2024 FOR STAY THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE V KAMESWAR RAO AND HON'BLE MR JUSTICE T.M.NADAF - 3 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 ORAL JUDGMENT (PER: HON'BLE MR JUSTICE V KAMESWAR RAO) The parties i.e., the appellant and respondent No.1 have filed a joint memo stating, that they have settled their dispute by way of a settlement as per the terms reflected in Paragraphs-5 onwards, which we re-produce as under:- “ 5. During the pendency of the above appeal, at the intervention of friends and well-wishers and after several discussions and deliberations, both the parties have resolved the entire dispute arisen between them and the Appellant has agreed to pay a sum of Rs.70,00,000/- (Rupees Seventy Lakhs only) as full and final settlement amount and in satisfaction of the entire arbitral award to Respondent No.1 simultaneously on signing of this compromise petition and all the necessary applications and documents are required to be filed for disposal of the Execution Petition No. 1397/2021 and Respondent No.1 has agreed to the same in the following manner:- i. The Appellant has agreed to pay a sum of Rs.70,00,000/- (Rupees Seventy Lakhs only) as follows ii. Demand Drafts in discharge of debt to Respondent No.1 as full and final settlement amount and in satisfaction of the arbitral award dated 09.03.2018 ("Settlement Amount"). - 4 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 iii. The Appellant has paid the said amount of Rs.70,00,000/- (Rupees Seventy Lakhs only) by Demand Drafts bearing Nos.: a. 777215 dated 3rd January 2025 for Rs.35,00,000/- (Rupees Thirty-Five Lakhs only), b. 777217 dated 31st January 2025 for Rs.10,00,000/- (Rupees Ten Lakhs only), c. 777218 dated 1st February 2025 for Rs.20,00,000/- (Rupees Twenty Lakhs only), and d. 773015 dated 3rd February 2025 for Rs.5,00,000/- (Rupees Five Lakhs only) and Respondent No.1 acknowledges the receipt of the same, subject to realisation. iii. The Appellant acknowledges unequivocally that these Demand Drafts are issued in discharge of its debt. iv. The Parties shall report this settlement to the Hon'ble High Court of Bombay in Crl. Petition No. 4157/2013, by filing a certified copy of this Compromise Petition therein. The Appellant has no objection and gives its consent for Respondent No. 1's Petition in Crl. Petition No. 4157/2013 is being allowed by quashing the FIR No.45 of 2013 dated 25.06.2013 registered in Rabale MIDC Police Station, Navi Mumbai. v. Respondent No.1 has agreed and undertaken that they shall unconditionally withdraw the Ex. Case No.1397 of 2021 before the City Civil Court at Bangalore, simultaneously upon receipt of the Settlement Amount by encashing the Demand Drafts detailed in cl.iii(a)-iii(d) hereinabove and receiving the money. vi. The parties shall hereby confirm that except the aforesaid amount of Rs.70,00,000/-, there shall not be any future/further claims against the Appellant herein by Respondent No.1. - 5 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 6. Parties hereby agree that the Settlement Amount represents the only sum payable and includes all known or unknown interests, costs, expenses, or any other all claims or use of any nature arising out of or in relation to or in any manner connected with the Impugned Award and/or the Agreement dated 24 February 2011. 7. All costs, taxes, and/or other expenses or incidences, if any on either party arising out of this settlement terms shall form on the party itself and neither party shall have any claim against the other in relation thereto. It is expressly agreed between Parties that this settlement is entered into with an intent to put an end to their longstanding disputes and does not in any manner admit or acknowledge any fault, defect and/ or negligence of any kind by either party in performance of their contractual or legal liabilities. 8. The settlement under this joint memo is entered into by the parties on their own free will and volition and without any collusion or compulsion from any quarter. 9. These settlement terms under this joint memo have been agreed between and signed by authorised representatives of the respective Parties after taking all necessary corporate and/or other internal approvals of which both Parties hereby confirm compliance. 10. This joint memo is being signed in three original sets, one to be retained by each party and the third to be filed in original before the Hon'ble High Court of Karnataka at Bengaluru. - 6 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 WHEREFORE, the Appellant and Respondent No.1 respectfully pray that this Hon'ble Court may be pleased to take the above joint memo on record and dispose of the above appeal in terms of the above joint memo and grant such other and further reliefs as are just.” 2. The memo has been signed on behalf of the appellant and Respondent No.1. Even the counsel for the appellant and respondent No.1 have signed the joint memo on behalf of the appellant and the Respondent No.1. 3. The above parties are present through their representatives. The counsel and representatives of appellant and respondent No.1 state that, the parties shall be bound by the terms of the settlement as reflected in the joint memo. 4. We take the terms of the settlement as reflected in Paragraphs-5 onwards, which we have re-produced above on record. We also take the submission made by the counsel and representatives for the appellant and respondent No.1 on record. 5. We also note that, the learned counsel for the appellant-M/s. Aluplex India Private Limited has handed over - 7 - NC: 2025:KHC:7881-DB MFA No. 8776 of 2023 the Demand Drafts as reflected in Para-5(iii) of the memo of settlement, to the counsel for the respondent No.1-M/s.Nitesh Residency Hotels Pvt. Ltd., who in turn has handed-over the same to the representative of Respondent No.1. 6. In view of the above, the counsel state the appeal be disposed of. It is ordered accordingly. 7. IA No.2/2024 for stay do not survive and dismissed as infructuous. Sd/- (V KAMESWAR RAO) JUDGE Sd/- (T.M.NADAF) JUDGE KGR* List No.: 1 Sl No.: 27