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2025 DAILYLAW 90030 (KAR)

NIPPON LIFE INDIA AIF MANAGEMENT LIMITED v. VERACIOUS BUILDERS AND DEVELOPERS PRIVATE LIMITED

WP/19538/2025 · 2025-08-18

M Nagaprasanna

body2025

Judgment text

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- 1 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 19538 OF 2025 (GM-CPC) BETWEEN: 1. NIPPON LIFE INDIA AIF MANAGEMENT LIMITED (FORMERLY KNOWN AS RELIANCE AIF MANAGEMENT COMPANY LIMITED) A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT 4TH FLOOR, PENINSULA BUSINESS PARK, TOWER A, LOWER PAREL, MUMBAI - 400 013. REPRESENTED BY ITS AUTHORISED REPRESENTATIVE, MR.ANSHUL VYAS DEPUTY HEAD LEGAL. 2. NIPPON LIFE INDIA ASSET MANAGEMENT LIMITED (FORMERLY KNOWN AS RELIANCE NIPPON LIFE ASSET MANAGEMENT LIMITED), A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT RELIANCE CENTRE, 4TH FLOOR, PENINSULA BUSINESS PARK, TOWER A, LOWER PAREL, MUMBAI - 400 013. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE MR.ANSHUL VYAS DEPUTY HEAD LEGAL Digitally signed by NAGAVENI Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 3. VISTRAITCL INDIA LIMITED (FORMERLY KNOWN AS IL AND FS TRUST COMPANY LIMITED) A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT C-22, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400 051. REPRESENTED BY ITS AUTHORISED REPRESENTATIVE, MR PALASH SINGH, MANAGER. …PETITIONERS (BY SRI. DHYAN CHINNAPPA, SR. COUNSEL FOR SRI. CHINTAN CHINNAPPA, ADVOCATE) AND: 1. VERACIOUS BUILDERS AND DEVELOPERS PRIVATE LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT, NO. 302, OXFORD CHAMBERS RUSTAM BAGH MAIN ROAD, OLD AIRPORT ROAD, BEHIND MANIPAL HOSPITAL BENGALURU - 560 017 (REPRESENTED BY ITS MANAGING DIRECTOR MR. KALUVOY SREENIVASULU REDDY) 2. MR. KALUVOY SREENIVASULU REDDY AGED 51 YEARS S/O MR. VENKATA SUBBA REDDY, RESIDING AT G 03, GROUND FLOOR, LAA ROYAL MANOR, 11TH MAIN, 11TH CROSS, HAL 2ND STAGE, - 3 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 INDIRANAGAR, BENGALURU - 560 038, PROMOTER. NO. 1 AND MANAGING DIRECTOR OF VERACIOUS BUILDERS AND DEVELOPERS PRIVATE LIMITED 3. MRS. KALUVOY MADHAVI SREENIVASULU REDDY AGED 47 YEARS, W/O MR. KALUVOY SREENIVASULU REDDY, RESIDING AT G 03, GROUND FLOOR, LAA ROYAL MANOR, 11 MAIN, 11TH CROSS, HAL 2ND STAGE, INDIRANAGAR, BENGALURU - 560 038, PROMOTER. NO. 2 AND MANAGING DIRECTOR DEVELOPERS PRIVATE LIMITED 4. MRS. SUNANDA VANI AGED 73 YEARS, W/O MR. LATE. MR. G.V. VEERASETTY, RESIDING AT FLAT NO C-301. VANI GARDEN, NO. 74 NEAR CRPF GATE PUTTENAHALLI, YELAHANKA HOBLI YELAHANKA TALUK, BENGALURU - 560 064. MR. RAVI G.V AGED 53 YEARS S/O MR. LATE. MR. G.V. VEERASETTY, RESIDING AT FLAT NO. C-1301 AND 1302, VANI GARDEN NO. 74, VANI GARDEN, NEAR CRPF GATE, PUTTENAHALLI, YELAHANKA HOBLI, YELANHANKA TALUK, BENGALURU - 560 064. SINCE DECEASED REPRESENTED BY ITS LEGAL REPRESENTATIVES - 4 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 5. SMT. ANURADHA B.S WIFE OF LATE G.V. RAVI AGED MAJOR, RESIDING AT NO.56 RENUKA BHAVAN, RAMA IYENGAR ROAD, V.V PURAM, BANGALORE - 560 004 ALSO AT FLAT NO. C1301 AND 1302, VANI GARDEN NO. 74, VANI GARDEN, NEAR CRPF GATE PUTTENAHALLI, YELAHANKA HOBLI, YELAHANKA TALUK BENGALURU - 560 064. 6. MS.SONAL RAVI D/O G.V. RAVI AND SMT. ANURADHA B.S, RESIDING AT NO.56, RENUKA BHAVAN, RAMA IYENGAR ROAD, V.V PURAM, BANGALORE - 560 004 ALSO AT FLAT NO C1301 AND 1302, VANI GARDEN NO. 74, VANI GARDEN, NEAR CRPF GATE PUTTENAHALLI, YELAHANKA HOBLI, YELAHANKA TALUK, BENGALURU - 560 064. 7. MRS. NANDINI SHIVAPRAKASH AGED 54 YEARS D/O MR. LATE. MR. G.V. VEERASETTY, RESIDING AT NO. 74, VANI GARDEN, NEAR CRPF GATE PUTTENAHALLI, YELAHANKA HOBLI, YELAHANKA TALUK BENGALURU - 560 064 AND ALSO AT NO. 102, SRI. MARUTHI RESIDENCY, 4TH CROSS THIMMAIAH GARDEN, - 5 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 RT NAGAR, BENGALURU - 560 032. 8. MRS. MALATHI AGED 50 YEARS D/O MR. LATE. MR. G.V. VEERASETTY NO. 74, VANI GARDEN, NEAR CRPF GATE PUTTENAHALLI, YELAHANKA HOBLI, YELAHANKA TALUK, BENGALURU - 560 064 AND ALSO AT NEXT TO TATA COFFEE BUILDING KUMAR PARK WEST, BENGALURU NORTH, SESHADRIPURAM, BENGALURU - 560 020. 9. MRS. CHAITANA @ CHETHANA PRASAD AGED 45 YEARS D/O MR. LATE. MR. G.V. VEERASETTY, W/O. MR. PRANAVA PRASAD, RESIDING AT NO. 74, VANI GARDEN, NEAR CRPF GATE. PUTTENAHALL, YELAHANKA HOBLI, YELAHANKA TALUK, BENGALURU - 560 064. 10. MRS. A.SURTHI, AGED ABOUT MAJOR, RESIDING AT FLAT NO.A-1201, A BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 11. MR. CHETAN KUMAR C., AGED MAJOR, RESIDING AT FLAT NO.D-103, D BLOCK, - 6 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 12. L AND T, RESIDING AT FLAT NO.E-103 AND E-1104, E BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 13. MR.DEVARAJ, AGED MAJOR, RESIDING AT FLAT NO.C-1201, C BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 14. MR. SUBASH K.KUMAR, AGED MAJOR, RESIDING AT FLAT NO.C-1202, C BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1,74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 15. MR. MANJUNATH Y.N. AGED MAJOR, RESIDING AT FLAT NO.E-1103, E BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND - 7 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 BEARING SY 74/1, 74/2. PUTTENAHALLI VILLAGE, YELAHANKA HOBLI. BENGALURU NORTH TALUK, BENGALURU - 560 064. 16. SMT. SHUKKUR MAHAMOODA BEGUM, AGED MAJOR, RESIDING AT FLAT NO.B-201, B BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1,74/2. PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 17. MR. SHRIKANT KUMAR, AGED MAJOR, RESIDING AT FLAT NO. D-201, D BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY. 74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU. 18. MR. DIVESH, AGED MAJOR, RESIDING AT FLAT NO. E-1202, E BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY. 74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 19. MR. BALAJI, AGED MAJOR, RESIDING AT FLAT NO.D-102, D BLOCK, VANI VILAS, SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, - 8 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 BENGALURU - 560 064. 20. MR. B.L. PILLAI, AGED MAJOR, RESIDING AT FLAT NO.D-1102, D BLOCK, VANI VILAS , SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 21. MR. SRINIVASH. M. AGED MAJOR, RESIDING AT FLAT NO.D-1201 D BLOCK, VANI VILAS SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 22. MR. ANAHIT MANCHANDA, AGED MAJOR, RESIDING AT FLAT NO.D-1202, D BLOCK, VANI VILAS , SITUATED ON CONVERTED LAND BEARING SY.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 23. MS. SUJATHA PRASANNA, AGED MAJOR RESIDING AT FLAT NO. C-40, VANIVILAS , ON CONVERTED LAND SITUATED ON BEARING SY. NO. 74/1, 74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. - 9 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 24. MR. NARENDRA SOWMYA, AGED MAJOR RESIDING AT FLAT NO. C-601, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO.74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 25. MR. SWAPNIL TOMAR, AGED MAJOR RESIDING AT FLAT NO. B-1002, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1, 74/2, PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 26. MR. ASHOK V SHETTY, AGED MAJOR RESIDING AT FIAT NO. D-1003, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 27. MR. NARAYANA MURTHY AGED MAJOR RESIDING AT FLAT NO. A104, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. - 10 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 28. MR. SAMEER CHAGRANI, AGED MAJOR RESIDING AT FLAT NO. 8-404, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 29. MR. RAJEEV TANDON, AGED MAJOR RESIDING AT FLAT NO. C-702, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 30. MS. AMBIKA TANDON, AGED MAJOR RESIDING AT FLAT NO. D-1002, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 31. MS. UMMADI KRISHNAVENI, AGED MAJOR RESIDING AT FLAT NO. B1303, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. - 11 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 32. MR. YOGENDRA RATHI, AGED MAJOR RESIDING AT FLATNO. E-1004, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 33. MR. D. K CHOUDHARY, AGED MAJOR RESIDING AT FLAT NO. E-1002, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 34. MR. SANJEEV KUMAR, AGED MAJOR RESIDING AT FLAT NO. C-1104, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 35. MR. ZARINA SHAIKH, AGED MAJOR RESIDING AT FLAT NO. C-902, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. - 12 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 36. MR. PRAMOD PRABHAKAR, AGED MAJOR RESIDING AT FLAT NO. A 1301, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 37. MR. PRAVIN DATTATRY PISAL, AGED MAJOR RESIDING AT FLAT NO. D-701, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 38. MR. KRISHNAN VISHWANATHAN, AGED MAJOR RESIDING AT FLAT NO. E-904 VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 39. MR. NASEER A, AGED MAJOR RESIDING AT FLAT NO. E-1003, VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. - 13 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 40. MR. RAMESH, AGED MAJOR RESIDING AT FLAT NO. B-1101 VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. 41. MR. MANJUNATH, AGED MAJOR RESIDING AT FLAT NO. D-204 VANIVILAS , SITUATED ON CONVERTED LAND BEARING SY. NO. 74/1,74/2 PUTTENAHALLI VILLAGE, YELAHANKA HOBLI, BENGALURU NORTH TALUK, BENGALURU - 560 064. …RESPONDENTS THIS WP IS FILED UNDER ARTICLE 227 OF THE CONSTITUTION OF INDIA PRAYING TO A) DIRECTING THE HONBLE COURT OF LXXXIV ADDL CITY CIVIL AND SESSIONS JUDGE (COMMERCIAL COURT CCH-85) TO FIX A CASE MANAGEMENT HEARING AND FIX A SCHEDULE FOR HEARING OF THE INTERLOCUTORY APPLICATIONS AND CONDUCT TRIAL IN COMM.O.S. 13/2019 AND ETC., THIS PETITION, COMING ON FOR FINAL HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 14 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 CORAM: HON'BLE MR. JUSTICE M.NAGAPRASANNA ORAL ORDER The petitioners are before this court seeking the following prayers: "a) ISSUE a writ in the nature of a Mandamus directing the Hon'ble Court of LXXXIV Addl City Civil and Sessions Judge (Commercial Court - CCH - 85) to fix a case management hearing and fix a schedule for hearing of the interlocutory applications and conduct trial in Comm.O.S.13/2019. b) ISSUE a writ in the nature of a Mandamus directing the Hon'ble Court of LXXXIV Addl City Civil and Sessions Judge (Commercial Court - CCH - 85) to expedite the adjudication of Comm.O.S. 13/2019 within a specified time frame/period. c) ISSUE such other orders or writs or directions as this Hon'ble Court deems fit under the circumstances of the case, in the interests of justice and equity." 2. Heard Shri Dhyan Chinnappa, learned Senior counsel for Shri Chintan Chinnappa, learned counsel appearing for the petitioners. 3. The petitioners are the plaintiffs, institutes a commercial suit in Commercial O.S.No.13/2019. The said suit is still pending, notwithstanding the mandate of the statute for disposal within one year from the institution of the suit. - 15 - HC-KAR NC: 2025:KHC:31991 WP No. 19538 of 2025 4. The learned Senior counsel impresses upon the court taking this court through the documents appended to the petition to demonstrate that about 40 applications are filed time and again and the court has granted adjournment, time and again. 5. In that light, I deem it appropriate to infuse finality into the proceedings, with a direction to the concerned court to dispose the petition, within an outer limit of six months from the date of receipt of copy of this order. All contentions remain open. Ordered accordingly. Sd/- (M.NAGAPRASANNA) JUDGE JY List No.: 1 Sl No.: 110 CT: BHK