Disposed

M/S. Mysore Pinnacle Acres and Ventures v. M/s. Sjk Builders and Developers (R)

Karnataka HC16 Mar 2023CMP/328/2022

Case brief

AI extract

What is this about?

In a petition under Section 11(6) of the Arbitration and Conciliation Act, 1996, the court disposed of the application for appointing an arbitrator after the parties filed a joint memo confirming they had mutually resolved their disputes and entered a corrigendum to the original MoU.

What did the court decide?

The Civil Miscellaneous Petition stands disposed of on the basis of the joint memo filed by the parties settling their disputes.

M/S. Mysore Pinnacle Acres and Ventures Vs M/s. Sjk Builders… — Arbitration | Karnataka HC (2023)

¶1

¶2

CMP No. 328 of 2022

¶3

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

¶4

DATED THIS THE 16^TH DAY OF MARCH, 2023

¶5

BEFORE

¶6

THE HON'BLE MR JUSTICE S.G.PANDIT CIVIL MISC. PETITION NO. 328 OF 2022

¶7

BETWEEN:

¶8

M/S. MYSORE PINNACLE ACRES AND VENTURES A PARTNERSHIP FIRM

¶9

EARLIER KNOWN AS M/S. PINNACLE ACRES AND VENTURES

¶10

HAVING OFFICE AT 1468, 1^ST CROSS KABIR ROAD, MYSURU 570 001 REP BY ITS MANAGING PARTNER MOTHI SINGH S/O B HAPU SING AGED ABOUT 46 YEARS.

¶11

…PETITIONER

¶12

(BY SRI. SANGAMESH R B., ADV.)

¶13

AND:

¶14

Digitally signed by MARIGANGAIAH PREMAKUMARI Location: High Court of Karnataka

¶15

M/S. SJK BUILDERS AND DEVELOPERS ® PARTNERSHIP FIRM OFFICE AT NO.836, 1^ST FLOOR BEHIND AKSHYA BHANDAR NEW KANTHARAJ URS ROAD, SARASWATHIPURAM MYSORE 570009 BY ITS M.D, SRI.M.N. DORESWAMY.

¶16

…RESPONDENT (BY SRI VEERABHADRA SWAMY H P., ADV.) THIS PETITION IS FILED UNDER SEC.11(6) OF THE ARBITRATION AND CONCILIATION ACT 1996, PRAYING TO I) APPOINT AN ARBITRATOR FOR THE PURPOSE OF DECIDING THE DISPUTES/DIFFERENCES ARISING BETWEEN THE PETITIONER AND THE RESPONDENT OUT OF THE MOU DATED 07/07/2016, ENTERED BETWEEN THE PARTIES WHICH IS NAMED AS MEMORANDUM OF

¶17

¶18

CMP No. 328 of 2022

¶19

UNDERSTANDING. (ANNEXURE-C) AND II) ISSUE SUCH OTHER DIRECTION AS THIS COURT MAY DEEMS FIT TO GRANT UNDER THE CIRCUMSTANCES OF THE CASE, IN THE INTEREST OF JUSTICE AND EQUITY.

¶20

THIS PETITION, COMING ON FOR ORDERS, THIS DAY, THE COURT MADE THE FOLLOWING:

¶21

ORDER

¶22

Heard the learned counsel Sri.Sangamesh.R.B., for petitioner and learned counsel Sri.Veerabhadra

¶23

Swamy.H.P., for respondent.

¶24

Joint memo dated 10.03.2023 is filed which is signed by the petitioner, respondent and their respective counsel. Said joint memo reads as follows:

¶25

“ COMPROMISE PETITION / JOINT MEMO FILED BY THE PETITIONER AND RESPONDENT

¶26

It is most humbly submitted by the Petitioner and respondent as follow:

¶27

The above petition is filed seeking for appointment of an Arbitrator for settlement of dispute aroused between the petitioner and the respondent in terms with the CONDITONS OF

¶28

¶29

CMP No. 328 of 2022

¶30

Memorandum of Understanding dated 07-072016.

¶31

Subsequent to the filing of the above petition, both the petitioner and the respondent have mutually resolved the outstanding disputes aroused under Memorandum of Understanding dated 07-07-2016 with respect to development of sites and the transfer of funds amongst themselves and have entered into a Corrigendum Memorandum of Understanding dated 03-03-2023 and have thus settled all the pending disputes including development of sites and transfer of funds as per the conditions made mentioned in Corrigendum Memorandum of Understanding dated 03-03-2023. Further, both the petitioner and respondent have agreed for all the conditions made mentioned in Corrigendum Memorandum of Understanding dated 03-032023 entered. A copy of the Corrigendum Memorandum of Understanding dated 03-032023 is filed along with this compromise petition / joint memo and shall be part and parcel of this joint memo. Both the Petitioner and Respondent have thus settled their rights and liabilities aroused under the Memorandum of Understanding dated 07-07-2016 and have mutually settled their share of acquisition of properties and transfer of funds as per Corrigendum Memorandum of Agreement dated 3^rd March 2023.

¶32

¶33

CMP No. 328 of 2022

¶34

Wherefore, under the facts and circumstances, both the petitioner and respondent most humbly prays that the Hon'ble Court be pleased to take the Joint memo on record and shall dispose of the petition in terms of this joint memo.

¶35

Hence prays for orders accordingly.”

¶36

Joint memo is placed on record.

¶37

In terms of the joint memo, Civil Miscellaneous Petition stands disposed of.

¶38

Sd/JUDGE

¶39

NC CT:bms List No.: 1 Sl No.: 14

M/S. Mysore Pinnacle Acres and Ventures v. M/s. Sjk Builders and Developers (R)

Case brief

What is this about?

What did the court decide?

M/S. Mysore Pinnacle Acres and Ventures v. M/s. Sjk Builders and Developers (R)

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Statutes considered

Parties & counsel

Coram

Case details

Similar cases

Umme-Sumaiya Vs the State of Karnataka

Smt Ramakka Vs the State of Karnataka

Sri.B.G.Shivamurthappa Vs State of Karnataka

B Fouress Private Limited Vs Ishan International Private Limited

Venkateshappa @ Venkatappa Bovi Vs the State of Karnataka

Mr Shameer Ali Vs the Principal Secretary