- 1 - NC: 2025:KHC-D:388 AP.EFA No. 100001 of 2019 IN THE HIGH COURT OF KARNATAKA, DHARWAD BENCH DATED THIS THE 10TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ ARBITRATION PETITION(ENFORCEMENT OF FOREIGN ARBITRAL AWARD) NO. 100001 OF 2019 BETWEEN: SINOSTEEL EQUIPMENT & ENGINEERING CO. LTD., SINOSTEEL PLAZA, 8 HAIDIAN STREET, BEIJING-100080, PEOPLE’S REPUBLIC OF CHINA, THROUGH ITS AUTHORISED SIGNATORY MR. BAO, HANYU. …PETITIONER (BY SRI. RAVI VARMA, SRI. AYNSH SRIVASTAVA, SMT. NIRMALA DODAMANI AND SRI. H.R. KAMBIYAVAR, ADVOCATES) AND: MSPL LIMITED, HAVING ITS REGISTERED OFFICE AT: BALDOTA ENCLAVE, ABHERAJ BALDOTA ROAD, HOSAPETE-583230, BALLARI DISTRICT, KARNATAKA, INDIA. ALSO, ITS CORPORATE OFFICE AT: 20, SANKEY CROSS RD, ABSHOT LAYOUT, VASANTH NAGAR, BENGALURU, KARNATAKA-560051. ALSO, ITS SITE OFFICE AT: NO.117, BALDOTA BHAVAN, MAHARSHI KARVE ROAD, MUMBAI-400020. …RESPONDENT (BY SRI. DHYAN CINNAPPA, SENIOR COUNSEL FOR SRI. G.K. HIREGOUDAR, ADVOCATE) GIRIJA A BYAHATTI Digitally signed by GIRIJA A BYAHATTI Location: HIGH COURT OF KARNATAKA DHARWAD BENCH - 2 - NC: 2025:KHC-D:388 AP.EFA No. 100001 of 2019 THIS ARBITRATION PETITION IS FILED UNDER SECTIONS 46, 47, 48 AND 49 OF THE ARBITRATION AND CONCILIATION ACT, 1996 AND ORDER XXI OF THE CPC, 1908, PRAYS THAT THE TOTAL AMOUNT OF INR 13,12,62,776.99 (RUPEES THIRTEEN CRORES TWELVE LAKHS SIXTY-TWO THOUSAND SEVEN HUNDRED SEVENTY- SIX AND NINETY-NINE PAISE ONLY) TOGETHER WITH INTEREST AT THE RATE OF 6% ON THE SUM OF INR 13,12,62,776.99 COMPUTED UNTIL THE DATE OF PAYMENT OF THE WHOLE SUM DUE TO THE DECREE HOLDER, TOGETHER WITH COST OF TAKING OUT THIS EXECUTION BE REALISED AS UNDER AND THIS HON’BLE COURT MAY BE PLEASED TO DECLARE THAT THE FINAL AWARD DATED 28.11.2018, MARKED AS ANNEXURE- 'A' HEREIN, IS ENFORCEABLE AGAINST THE JUDGEMENT DEBTOR COMPANY IN INDIA IN TERMS OF THE SECTION 49 OF THE ACT; DIRECT THE JUDGMENT DEBTOR TO FURNISH AN AFFIDAVIT DISCLOSING ALL OF THEIR ASSETS, BOTH MOVABLE AND IMMOVABLE PROPERTIES; PASS AN ORDER RESTRAINING THE RESPONDENT/JUDGEMENT DEBTOR, ITS EMPLOYEES, AGENTS AND SUCCESSORS AND ASSIGNS FROM SELLING, ALIENATING, DISPOSING OF, TRANSFERRING OR CREATING ANY THIRD-PARTY INTEREST OR ENCUMBRANCE IN ANY MANNER WHATSOEVER ON ALL OF ITS IMMOVABLE AND MOVABLE ASSETS; UPON RECEIPT OF THE DETAILS OF THE ASSETS OF THE JUDGEMENT DEBTOR, PASS AN ORDER FOR ATTACHMENT AND SALE OF JUDGMENT DEBTOR'S IMMOVABLE AND MOVABLE ASSETS/PROPERTIES AND THE PAYMENT OF SUMS SO REALIZED TO THE EXTENT OF THE DECRETAL DEBT, TO THE DECREE HOLDER; PASS AN ORDER FOR IDENTIFYING THE BANK ACCOUNTS OF THE RESPONDENT/ JUDGEMENT DEBTOR AND REALIZING THE PROCEEDS OF THE AWARD THEREFROM TO THE EXTENT OF THE DECRETAL DEBT TO THE DECREE HOLDER; PASS ANY SUCH ORDER OR ORDERS AS THIS HON'BLE COURT MAY DEEM FIT TO PASS TOWARDS ENSURING THE EXECUTION OF THE AWARD AND DECREE OF THE ARBITRAL TRIBUNAL, IN THE INTEREST OF JUSTICE AND EQUITY. THIS PETITION, COMING ON FOR ORDERS THIS DAY, ORDER WAS MADE THEREIN AS UNDER: ORAL ORDER (PER: THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ) 1. The petitioner is before this Court seeking for the following reliefs: - 3 - NC: 2025:KHC-D:388 AP.EFA No. 100001 of 2019 a) Declare that the Final Award dated 28.11.2018, marked as Annexure- 'A' herein, is enforceable against the Judgement Debtor company in India in terms of the Section 49 of the Act; b) Direct the Judgment Debtor to furnish an affidavit disclosing all of their assets, both movable and immovable properties; c) Pass an order restraining the Respondent/ Judgement Debtor, its employees, agents and successors and assigns from selling, alienating, disposing of, transferring or creating any third-party interest or encumbrance in any manner whatsoever on all of its immovable and movable assets; d) Upon receipt of the details of the assets of the Judgement Debtor, pass an order for Attachment and Sale of Judgment Debtor's immovable and movable assets/properties and the payment of sums so realized to the extent of the decretal debt, to the Decree Holder, e) Pass an order for identifying the bank accounts of the Respondent/ Judgement Debtor and realizing the proceeds of the Award therefrom to the extent of the decretal debt to the Decree Holder; f) Pass any such order or orders as this Hon'ble Court may deem fit to pass towards ensuring the execution of the award and decree of the Arbitral Tribunal, in the interest of justice and equity. - 4 - NC: 2025:KHC-D:388 AP.EFA No. 100001 of 2019 2. A joint memo dated 10.01.2025 signed by both the counsel for the petitioner and respondent is filed, which reads as under: “The Petitioner and the Respondent above named humbly submit that they have amicably settled the dispute concerning the subject matter of the captioned petition in terms of the Settlement Agreement dated 27.12.2024. A copy of the duly executed Settlement Agreement is produced herewith as Document No. 1. The entire payment as provided for in the Settlement Agreement has been made in favour of the Petitioner and the Petitioner hereby acknowledges receipt of the entire sum of money in terms of the Settlement Agreement. The present memo is being filed by the parties pursuant to the said Settlement Agreement, which unequivocally records that all disputes and claims, including any interest claims against the Respondent arising out of or in connection with the subject agreements and the subject arbitral award dated 28.11.2018 stand fully and finally settled. Both Parties acknowledge that with the payment having been received in terms of the Settlement Agreement, the claims under the Arbitral Award have been fully settled and all claims thereunder stand discharged fully. In that view of the matter, the present petition and the claim for enforcement and execution of the Award dated 28.11.2018 made thereunder does not survive for consideration. WHEREFORE, it is most respectfully prayed that this Hon'ble Court may be pleased to take the present joint memo on record and close and dispose of the present petition as being fully and finally settled and that the Arbitral Award dated 28.11.2018 has been fully satisfied and stands discharged.” - 5 - NC: 2025:KHC-D:388 AP.EFA No. 100001 of 2019 3. Both the counsel submit that they have been authorised by their respective parties to sign the compromise memo. 4. Their submission is accepted, more so for the reason that a full and final settlement agreement dated 27.12.2024, which has been signed by the parties, is annexed to the said memo. 5. Accepting the joint memo, present petition is disposed of recording the submission of both the counsel that the dispute between the parties has been fully and finally settled in terms of the Arbitral Award dated 28.11.2018. 6. In view of disposal of the main petition, all pending I.As. stand disposed of. Sd/- (SURAJ GOVINDARAJ) JUDGE gab CT-MCK List No.: 1 Sl No.: 2