Mr Chimanlal Talreja v. Propcare Developers Private Limited
Arbitration and Conciliation Act, 1996 – Section 11(5) – Appointment of arbitrators
Case brief
What is this about?
Karnataka High Court, Bengaluru; CMP No. 589 of 2025; decided 15.06.2026 by B M Shyam Prasad, J.; Section 11(5) Arbitration and Conciliation Act, 1996; appointment of arbitral tribunal; Clause 30 of Joint Development Agreement dated 29.06.2013; Arbitration and Conciliation Centre-Bengaluru Rules, 2012; withdrawal of petition on settlement; settlement agreement dated 13.04.2026; Rs. 17 crore (Rs.17,00,00,000/-) full and final settlement by Respondent No.1; petitioner Chimanlal Talreja; Respondent No.1 Propcare Developers Private Limited (formerly Mantri Developers Private Limited); other respondents include Sammaan Finserve Limited, Sammaan Capital Limited, Omkara Assets Reconstruction Private Limited; petition dismissed as withdrawn; no merits adjudicated; no precedents cited.
What did the court decide?
Petition dismissed as withdrawn pursuant to the memo filed by petitioner's counsel, following the settlement agreement dated 13.04.2026 between the petitioner and Respondent No.1.