- 1 - HC-KAR NC: 2026:KHC:4205-DB COMAP No. 450 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF JANUARY, 2026 PRESENT THE HON'BLE MRS. JUSTICE ANU SIVARAMAN AND THE HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL COMMERCIAL APPEAL NO.450 OF 2022 BETWEEN: NK DEVELOPERS PVT. LTD. A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT 9/2, MADRAS BANK ROAD, BEHIND INDIA GARAGE, ST.MARKS ROAD, BENGALURU-560 001. REPRESENTED BY ITS AUTHORISED SIGNATORY MR.KUNAL KASHYAP. …APPELLANT (BY SRI. L. SRINIVAS, ADVOCATE) AND: 1. CONCORD INDIA LTD A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS OFFICE AT 1ST FLOOR, EMBASSY POINT, 150, INFANTRY ROAD, BENGALURU-560 001. 2. HON'BLE MR.JUSTICE ANAND BYRAREDDY (RETD) LD. PRESIDING ARBITRATOR 776, DOUBLE ROAD, INDIRANAGAR II STAGE, BENGLAURU-560038. Digitally signed by BANGALORE ANJANAPPA KRISHNA KUMAR Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:4205-DB COMAP No. 450 of 2022 3. HON'BLE MR.JUSTICE SUBHRO KAMAL MUKHERJEE (RETD.) LD. CO-ARBITRATOR 69B, USTAD AMIR KHAN SARANI (OLD 699D) BLOCK-P, NEW ALIPORE, KOLKATE-700053. 4. HON'BLE MR.JUSTICE R.GURURAJAN (RETD.) LD.CO-ARBITRATOR NO.504, CHTRAPUR APARTMENTS 5TH FLOOR, 15TH CROSS, MALLESHWARAM BENGALURU-560055. …RESPONDENTS (BY SRI. VEGADARSHI K., ADV. FOR SMT. MANEESHA KANGOVI, ADV. FOR C/R1) THIS COMAP IS FILED UNDER SECTION 13(1-A) OF THE COMMERCIAL COURTS ACT, 2015 R/W SECTION 37(1)(C) OF THE ARBITRATION AND CONCILIATION ACT, 1996, PRAYING TO A) SET ASIDE THE JUDGMENT DATED 29.08.2022 PASSED IN COM.A.S.NO.88/2019 ON THE FILE OF THE LXXXIX ADDITIONAL CITY CIVIL AND SESSIONS JUDGE (COMMERCIAL COURT) AT BENGALURU (CCH NO.90) (ANNEXURE-A) AND ALLOW THE SUIT COM.A.S.NO.88/2019 UNDER SECTION 34 OF THE ARBITRATION AND CONCILIATION ACT, 1996 AND SET ASIDE THE MAJORITY ARBITRAL AWARD DATED 09/03/2019 (ANNEXURE-B) PASSED BY THE HO'NBLE ARBITRAL TRIBUNAL IN THE DISPUTE BETWEEN THE APPELLANT AND RESPONDENT NO.1 AND ETC. - 3 - HC-KAR NC: 2026:KHC:4205-DB COMAP No. 450 of 2022 THIS APPEAL, COMING ON FOR ADMISSION, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MRS. JUSTICE ANU SIVARAMAN and HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL ORAL JUDGMENT (PER: HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL) Learned counsel appearing for the appellant as well as the respondents submits that the matter is settled out of the Court and a memo is filed to that effect. The memo reads as under; "The Appellant most humbly submits as below: 1. The present appeal has been filed under Section 37 of the Arbitration and Conciliation Act, 1996("A&C Act"), against the judgment dated 29.08.2022 in Com.A.S.No.88/2019 made under Section 34 of the A&C Act thereby confirming the Arbitral Award dated 09.03.2019. 2. The arbitral proceedings that are the subject of the present appeal and which led to the Arbitral Award dated 09.03.2019, arise pursuant to and under a Memorandum of Understanding dated 16.08.1999 executed between the Appellant and Respondent No.1("said MoU"). - 4 - HC-KAR NC: 2026:KHC:4205-DB COMAP No. 450 of 2022 3. Pursuant to a subsequent arrangement mutually arrived at between the parties, the said MOU has been jointly terminated by both parties vide 'Deed of Termination dated 03.02.2025'. As such, the Appellant seeks to withdraw the present appeal. True copy of the Deed of Termination dated 03.02.2025 is produced herewith as an ANNEXURE. WHEREFORE, it is most humbly prayed that this Hon'ble High Court be pleased to take the present Memo on record and dismiss the present appeal as withdrawn, in the interests of the justice and equity.." 2. In view of the memo, appeal is dismissed as withdrawn. Sd/- (ANU SIVARAMAN) JUDGE Sd/- (VIJAYKUMAR A. PATIL) JUDGE RAK List No.: 1 Sl No.: 1