- 1 - HC-KAR NC: 2026:KHC:10689-DB COMAP No. 480 of 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF FEBRUARY, 2026 PRESENT THE HON'BLE MRS. JUSTICE ANU SIVARAMAN AND THE HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL COMMERCIAL APPEAL NO. 480 OF 2023 BETWEEN: M/S. ASTER E TECHNOLOGIES NO.1, MAHAH BUILDING CHAMUNDESHWARI LAYOUT, DODDABOMASANDRA VIDYARANYAPURA MAIN ROAD, BENGALURU 560 097. REPRESENTED BY ITS AUTHORIZED SIGNATORY MR. ALEN J. J. FERNANDEZ …APPELLANT (BY SRI. RAJ PRABHU S., ADVOCATE) AND: NUCIFERA RENEWABLE ENERGY SYSTEMS RAGHAVENDRA NAGARA BEHIND DEVANUR CHURCH, NALANDA CONVENT PARALLEL ROAD, TUMKUR 572 102. REPRESENTED BY ITS PROPRIETOR Digitally signed by RAKSHA Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:10689-DB COMAP No. 480 of 2023 MR. M. R. SHIVAKUMARASWAMY …RESPONDENT (BY SRI. UDAY SHANKAR M., ADVOCATE) THIS COMAP IS FILED UNDER SECTION 13 OF THE COMMERCIAL COURT ACT, 2015, PRAYING THAT THIS HONBLE COURT MAY BE PLEASED1 TO SET ASIDE THE IMPUGNED JUDGMENT AND DECREE DATED 23.11.2021 PASSED IN COM.O.S. NO. 1/2021 BY THE LEARNED II ADDITIONAL DISTRICT JUDGE, COMMERCIAL COURT AT TUMAKURU, AND CONSEQUENTLY ALLOW THE PRESENT APPEAL.2 AND THE MATTER MAY BE REMANDED BACK TO THE COURT BELOW TO CONSIDER THE ORIGINAL SUIT FOR FRESH TRIAL BY AWARDING THE COST OF THIS APPEAL, IN THE ENDS OF JUSTICE.3 AND PASS SUCH OTHER ORDERS AS THIS HONBLE COURT DEEMS FIT UNDER THE CIRCUMSTANCES OF THIS CASE IN THE INTEREST OF JUSTICE AND EQUITY. THIS APPEAL, COMING ON FOR ORDERS, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MRS. JUSTICE ANU SIVARAMAN and HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL - 3 - HC-KAR NC: 2026:KHC:10689-DB COMAP No. 480 of 2023 ORAL JUDGMENT (PER: HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL) Learned counsel appearing for the appellant and learned counsel appearing for the respondent submits that the matter is amicably settled between the appellant and the respondent and they have filed a joint memo. 2. The parties are present before the Court and they are duly identified by their respective counsel. 3. The parties present before the Court submit that they have agreed to the terms of the settlement and signed the joint memo. The joint memo reads as under; JOINT MEMO "The Appellant and the Respondent jointly submit as follows: 1. It is respectfully submitted that the above COM APL No. 480/2023 is pending before this Hon'ble Court challenging the judgment and decree passed by the Hon'ble II ADDL District Judge, Commercial court at Tumkuru in Commercial O.S.No.1/2021 dated 23rd November 2021. 2. It is submitted that this Hon'ble High Court, while considering the application for stay of the judgment and decree of the lower court, was pleased to direct the Appellant to deposit 50% of the decretal amount along with accrued interest, amounting to a sum of Rs.5,81,000/-, as a condition precedent for stay. - 4 - HC-KAR NC: 2026:KHC:10689-DB COMAP No. 480 of 2023 3. It is submitted that in compliance with the said order of this Hon'ble Court, the Appellant has deposited a sum of Rs.5,81,000/- before this Hon'ble Court. 4. It is submitted that the parties have now amicably resolved all their disputes and differences in respect of the subject matter of the present appeal. 5. It is mutually agreed that the Respondent shall accept a sum of Rs. 5,81,000/- (Rupees Five Lakhs Eighty- One Thousand Only) in full and final settlement of all claims arising out of the impugned judgment and connected proceedings. 6. The settlement is mutual between the parties and there shall be no claims against whatsoever in future between each other as all the claims and transactions which existed between the parties is all settled by way of the joint memo. 7. The Respondent undertakes to withdraw the execution petition numbered as Ex.201/2023 pending on the file of Hon'ble II ADDL District Judge, Commercial court at Tumkuru arising out of Judgment and Decree passed in Commercial O.S.No.1/2021 dated 23rd November 2021 by the same court. 8. In view of the above settlement, the Appellant prays that this Hon'ble Court may be pleased to: a. Permit the parties to accept this joint memo and close the present appeal as settled. b. Release the deposited amount of Rs.5,81,000/- in favour of the Respondent. c. Record that upon release of the said amount, both parties shall withdraw all cases/claims filed against each other in respect of the subject matter of the present - 5 - HC-KAR NC: 2026:KHC:10689-DB COMAP No. 480 of 2023 proceedings, and no further claims shall survive between them. WHEREFORE, the parties respectfully pray that this Hon'ble Court may be pleased to record this Joint Memo and pass appropriate orders in the interest of justice and equity." 4. We have perused the joint memo. Same is in accordance with law. Same is accepted. 5. In view of the joint memo, appeal is disposed of. Registry shall draw up decree in terms of the joint memo and shall release the amount in deposit in favour of the respondent along with the accrued interest, if any, after following the proper procedure. In view of disposal of main appeal, pending applications, if any, also stand disposed of. Sd/- (ANU SIVARAMAN) JUDGE Sd/- (VIJAYKUMAR A. PATIL) JUDGE PN List No.: 1 Sl No.: 21