Commercial Appeal (COMAP No. 482 of 2023) under Section 13(1-A) of the Commercial Court Act, 2015 read with Order XLIII Rule 1 of the Code of Civil Procedure, filed by M/s VNG Developers, its partners and Renikindi Rakesh against the judgment and decree dated 30.08.2023 in Com.O.S.No.849/2021 on the file of the X Addl. District & Sessions Judge (Dedicated Commercial Court), Bengaluru Rural District. On the appellants and respondents (represented by senior counsel for Respondent Nos. 1 to 3; notice to Respondent Nos. 4 to 12 dispensed with) presenting a memorandum of settlement, and with the parties present and identified before the Court, the Division Bench (oral judgment per Hon'ble Mrs. Justice Anu Sivaraman) disposed of the appeal in terms of the compromise. Settlement terms: respondents free to withdraw the entire Rs.1,00,00,000 deposited before the High Court of Karnataka and the amounts (including Rs.19,24,000) deposited before the Hyderabad courts; appellants to pay Rs.10,00,000 on execution of the compromise petition (cheque No.001286 dated 11.06.2026) and Rs.40,00,000 in four monthly post-dated instalments of Rs.10,00,000 each (cheques Nos.001288-001291 dated 11.07.2026 to 11.10.2026), undertaking honour of all cheques; court fee of Rs.5,07,471 withdrawable by respondents; respondents to withdraw execution case Com.Ex.No.123/2024 and not to oppose disposal/compounding of Crl.R.P.Nos.57, 58 and 60 of 2026 before the Telangana High Court; original building plans and commencement certificates for Plot Nos.126 and 74 handed over; on payment of the final settlement amount of Rs.55,07,471 all disputes stand fully and finally settled, default (including dishonour of post-dated cheques) permitting reopening of the compromise and contempt proceedings. The parties' submission that the attachment ordered by the Hyderabad Court will also be withdrawn was recorded; the Registry was directed to draw up the decree, and the matter was listed for 02.09.2026 to ascertain compliance; pending applications stand disposed of.
