M/s. SHV Energy (P) Ltd v. M/s. KLA Const. Technologies and another

Petition under Section 151 CPC praying that in the circr rrstances stated in the affidavit filed in suppo( of the petition, the High Court mav re pleased to pass an order. directing the registry to release the balance amount l ing in FDR opened pursuant to the directions of this Honble court daled 171212021 in lA No i of 2O21 in COI\tICA No. '1 3 of 2021 along with interest accrued till the r ate of the release, in the ratro of 44o/o in favour of the Petitioner/Appellant and {;(i% in favour of the Respondent/Respondent; dispose of COMCA No. '13 of 2C1 1 in terms of the l/emorandum of Settlement daled 0911212025. Counsel for the Appellant : Sri S.RAVI, Learned Senior CoL rrsel representing SRI CH PUSHYAM KIRAN Counsel for the Respondents : SRI K.DHANANJAYA NAlDt , (OLLA The Court delivered the following: COMMON JUDGMENT HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD. THE HON'BLE JUSTICE MOUSHUMI BHATTACHARYA AND THE HON'BLE JUSTICE GADI PRAVEEN KUMAR I.A.No.2 of 2o25 IN AND coMcA No. 13 0F 2021 DATEI 1L.L2.2O25 Between M/s. SHV Energy (P) Ltd. Versus ... Appellant M/s. KLA Const. Technologies and another ... Respondents Sri S. Ravi, learned Senior Counsel representing Sri Ch. Pushyam Kiran, Iearned counsel appearing for the appellant. Sri Dhananjaya Naidu Kolla, learned counsel appearlng for thc respondent No. 1. COMMON JUDGMENT: (Per Hon'blc Justice Moushumi Bhattacharya) l. The Appeal arises out of an order dated 25.06.2O2O passed by the Commercial Court-cum-XXIV Additional Chief Judge, City Civil Court, Hyderabad, in C.O.P.No.62 of 2018.

2. I.A.No.2 of 2025 was filed seeking a direction to the Registry to release the balance amolrnt lying in the Fixed Deposit opened pursuant to the directions issued in the order datcd 17.O2.2021 rn 2 I.A.No.1 of 2O2l along rvith interest accrued til1 tl-u: latc: of release, .l in the ratio of 44o/o in favour of the petitioner f app llant and 567o in favour ol the respondent No.1;and to dispose r'tht: Appeal in l-erms of thc Memorandum of Settlement dated 09.l ),.20'25.

3. The appellant is the Award Debtor and the :'r spondent No. 1 is the Au,ard Holdcr

4. Learned Senior Counsel appearing for the ap cellant as well as learncd counsel appearing for the respondent \,r.1 inform the Court that the parties have settled their dispr- tes and have cry,stallizcd the same in the lorm of a Memorandu: of Se[tlement dated O9.12.').O25

5. Senior Counsel places the relevant para lraph of the Memorandum of Se[tle ment dated 09.12.2025, s,-r ch apportions the amollnt lf ing in the Fixed Deposit along r\.it r thc accrued intcrest, between thc appellant/Award Debtor and 1rc respondent No.1/Award Holdcr in the ratio of 44Vo and 567o, r-. ;pectivel1,. The appellant/Award Debtor had complied with the order dated 17 .O2.2021 passed by the Division Bench - I (presi:,:d over by the Hon'ble the Chief Justice as Her Lordship then wa,; by clepositing the entirety of the decre ta1 amount along with the i I .r:rest accrued until that date, with the Registry within the time tr rme specified, which was placed in a Fixed Deposit Receipt (FDR). In pursuance of the [urther order dated 14.06.202 I passed 1-1 thr: Divrsion I I , 3 -f Bench - I, the respondent No.l/Award Holder was permitted lo withdraw a sum of Rs. 1,44,76,O441-. The balance amount lying with the Registry is the subject matter of the Memorandum of Settlement.

6. Considering that the parties have settled their disputes in writing and apportioned the amount to be withdrawn from the FDR as it stands today, I.A.No.2 of 2025 is allowed and the Registry is directed to liquidate the Fixed Deposit and apportion the amount therein between the appellant and the respondent No. 1 in the ratio of 44%o and 560/o, respectively, in terms of the Memorandum of Settlement dated 09.72.2025-

7. Consequently, COMCA No.13 of 2021 is accordingly disposed of in terms of the Memorandum of Settlement dated Og.12.2025. All connected applications stand disposed of' There shall be no order as to costs. //TRUE COPY// SD/- M. VIJAYA BHASKEF. JOINT REGISTRAR /:/ a-/ SECTION OFFICER To, 1 2 3 4 The Registrar (Administration),High Court for the State of Telangana' Hyderabad. The Registrar (Judicial-l), High Court for the State of Telangana' Hyderabad The XXIV Additional Chief Judge-cum-Commercial Court' City Civil Court' Hyderabad. One CC to SRI CH PUSHYAI/ KIRAN Advocate [OPUCI One CC to SRI DHANANJAYA NAIDU KOLLA Advocate [OPUC] 6 Twd CD CoPies Along with Memorandum of Settlement HIGH COURT DATED:1 111212025 \ T .9 =+ *H Ho )+ o,+, '\c -</ 4 COMMON JUDGMENT COMCA.No.13 of 2021 DISPOSING OF THE APPEAL q \ --aI fI s 0 I 3 rEl I r,l B e>d n" ea *d.rrmr TELANGANA r+Dal. Id. 2 5 lZOt ISOS 477 7 7 122 0t DtrC 202t 06:08 PM Purrh.r.d By; P XRISHNA sd p gerapggru R/o I I YDERABAD S{V ENERCY PRIVAIE LIMITED MEMORANDUM OF SETTLEMENT BT 099317 KODALI GEEfiIA R NI LICENSED STAMP YENDOR Lic No I644-00r/2Otl Ren No. l6-04-014-2025 8-3-t9l/r 12, 167/C, BEHTND E, SEVA YENCAL RAO NAGAR. HYDERAEA}5OOO]8 Ph 9492025252 a I lLu THIS MEMORANDUM OF SETTLEMENT is being executed at Hyderabad, on this 9th day of December 2025 between:- M/s SHV Energy Private Lirnited a Compirny Incorporated under the provisions of the Companies Act 1956, Having its registered office at l2th Floor, Orbit Towers, Plot No. 3O/C, Survey No. 83/ 1. Hyderabad Knowledge City, TSIIC, Raidurg Panmaktha, Serilingampally Mandal, Hyd, Telangana - 50O019 Represented by its Vice President - Legal, Mr. Sreeman Narayala Kadali authorized vide Board Resolution dated 17th March2OlT. (hereinafter referred to as the First Party) crc Gt \ .,,."""111 t E E B ! I E I E I F Ir , I , D F , I i:-. \.i .:r l ()O oo'l oo100 oo 1 001 o1 10-to I001 0(f 1 00" 1 00-1 o-t oo r '1 OOr Cr- 1C,c) IO o-l ( cI oo1c)0 r )() t oo1c)o I '| 1 -1 o1 oooo c)o -t (< @od rr" ea tdqmr TELANGANA TIIn Id: 251208180s{777?t22 CEr.: 0t DEC 202s,06:08 fM Pu.rh$cd By: P KRISHNA sf r nerereeru R/o HYDERABAD SEY ENERGY PRIVATE LIMITED AND 4 BT 099318 KODAI,I CEETIIA RANI LICENSED STAMP VEI.IDOR Lic No l6-0{-0ot,2Ol3 I(eo.No. l6-04-0t4-2025 8 r-t9tlD2. I67lC. BEHTND F:- SE /\ VENGAI RAO NACAP.. qYDERAIIA}5OOO]S Ph 9492025252 M/s KIA Const. Technologies Prft. Ltd., a Compan;. r corlrorated under the prousions of the Companies Act 1956, having its registered office at 59, Okhla phase- III, New Delhi 110 ) tO through Shri Ajay Kumar, Authorized Represcntative, authorizerl vide Board Resolution dared 04/ \2l2O2S (hereinafter referred to as the Second Party) The expression of First party and Second party shal mean and include their respective directors, shareholders, )e rgal heirs, successors, executors, administrators, nominees and I ;signs etc. unless repugnant to context used. IIHEREAS the First Party had placed purchase Orde:: upon the Second Party for construction of filiing plant at Rohtal., Haryana I rP UJ C, J e \ X \r -.,. . ,-r):. 'lr:r..\ - .( --1 * I t E I I ! E x \b d,,rith capa.itv of 430 MT bulk LpG storage. Certain disputes arose between the parties under the purchase Orders and the disputes were referred for adjudication through arbitration by a Ld. Sole Arbitrator y2. Shri S. Nageshwara Rao, a retired District and Sessions judge in terms of Clause 36 of tJle General Terms and Conditions of the Purchase Orders. AND WHEREAS Ld. Sole Arbitrator uide ils Arbitral Award dated 22.12 2017 (Arbitral Award,) awarded, in favour of the Second Party and against the First party, an amount of Rs. 1,76,9g,5g3/ along with pendent lite interest at the rate of 1g% per annum from the date of frling of the claim to till the date of passing of the award i.e. from 2I.06.2013 to 22.12.2O17. Further fu ture interest at the rate of 9o/c, per annum from date of award to tilr its realization has been awarded. The costs of arbitration of Rs. 9,75,000/_ was also awarded AND WHEREAS rhe First party being aggrieved by the Arbitral Award dated 22.12.2O17, preferred a petition under Section 34 of the Arbitration and Conciliation Act, I996 before the Commercial Court cum XXIV Additional Chief Judge, City Civil Court, Hyderabad, which was numbered as C.O.p. No. 62/20Ig. The Learned Commercial Court by a detailed Order and Judgment dated 25.06.2O2O rejected thc perition filed by the First party. AND WHEREAS the Second party had preferred an execution of the said Arbrtral Award dated 22.12.2017 under Section 36 of the Arbitration and Concihation Act which is currently pending as stayed in the Court of Hon'ble Commercial Court Cum XXIV Addl. ChiefJudge City Civil Courr at Hyderabad, Telangana in CEp No. 27 of 20 18. AND WHEREAS The First party on re3ection of its petition vide order and judgment dated 2 5.06 0a pproached the Hon'ble High Court d-)}' \ .'/ i'o\ \'' ) \"^\ \, Cr the Stare of Telangala at Hyderabad by filing an ap: :a1 under Section 37 of tlre Arbitration ald Conciliation Act nu: bered as COM. C.A. No. 13/2021 and currently sub judice. AND WHEREAS the Hon,ble High Court had further tntt), -alia id,e its order dated 07.O2.2O21 directed the First party to ( ( posit the entire decretal amount along with accrued tnterest with tir r Re€jrstry of the Hon'ble High Court for stay of operation of Jucl5 t rent and Arbitration Award dated 22.12.2O17. In complian<:r: .vith the aforesaid directton the First party has depositcd a sr.; ,r ol Rs. 3,Al ,06 ,625.62/ - (Rupees Three Crores Eighty_Onr: t rkh Six Thousand arrd SLx Hundred Twenty_Five and Sixty_Two pa.sa Only) with thc Registry of the Hon,ble High Court. AND WHEREAS the Second party filecl an applicarion l),.fore the Hon'ble High Court of Telangana vidc IA No, 2 of 202 I seeking release of the undisputed amount dcposited by the First l)i rty lvith the Registry of this Hon,ble Court. The Hon,ble High Cou - vide its order dated 14.06.2021, dirccted to the registry to re[(ase the undisputed amount from the deposited amount. In furthe -ance o[ the order of the Hon'ble High Court vide order dated I4.0t . ),O21 an amount of Rs. 1,44,76,044/- (Rupees One Crore Forty F:l rr Lakh Seventy Six Thousald and Forty-Four On.ly) was rr:le:rscr L to Lhc Second Party. AND WHEREAS after the withdrawal of lts. 1 ,44,76,044,1 Rupees One Crore Forty-Four Lakh Seventy-Slx Thousand and Fr,t iy_Four Only) by the second Party, as per order of the Hon,ble High r )ourt of Telangana dated 14.06.202 l, thc balance of thc amount ( ( postted bv the First Party was directed to bc placed in an IiDR for: periocl of six months initially, to be rene,"ved thereafter frorn time tr ime rill further orders, P o( 2 t' J !'.1 ,..;,\ ,.. \, .'_: ) \. -1-) \ ,-. j i I I I 1 : .t I! { { } lr- !,ND WHEREAS now the parties have mutually agreed to amicably settle all the disputes amongst themselves, including but not limited to the rights and obiigatrons as determined under the Arbitral Award dated 22.12-20 17, on the following terms and condilions: _ NOW THIS DEED OF SETTLEMENT SHALL WITNESS AS FOLLOWS: @ That it is agreed between the parties that the balance arnount Iying as a deposit with the Registry of the Hon,ble High Court in the form of aI FDR along with its accrued interest tull the date of release shall be released in the ratio of 44% (Forty Four Percent) to the First Party and 56% (Fifty Six percent) to the Second Party. The balance amount lying in deposit is Rs. 2,36,3O,58I.62l- (Rupees Two Crores Thirty-Six Lakh Thirty Thousand Five Hundred Eighty-One and Sixty-Two paisa Only) (i.e. Rs. 3,81,06,625.62/- minus Rs. 1,44,76,O44/-) plus interest accrued in the FDR prior to and after the date of release of Rs- 1,44,76,0 441- to tlne Second Party, (for short the .,Balance Amount")- 2 That it is agreed between the parties, that the First party and the Second Party shall hle appropriate apflication(s) before the Hon'ble High Court Telangana in COM C.A. No. 13 of 2O2l praying for directions of the Hon'ble High Court to the Regrstry to release the Balance Amount with the accrLted interest as on the date of release, in t1-e ratio of 44Yo (Forly-Four Percent) to the First Party and 56% (Fifty-Srx Percent) to the Second Party and accordingly seek disposal of the appeal under Section 37 of the Arbitratron and Conciliation Act in terms of this Memorandum of Settlement. 1F, C/ "n,,r, '.+ 011 { { T ? t i i ,i 3 J. That after filing and lis ng the application mention : I in point No. 2 just above, the Second Party shall hle :l,propriate application(s) before the Hon'ble Commercia.l Court ( um XXIV Add1. Chief Judge, City Civil Court, Hyderabad, Teli ngana in C.E.P. No. 27 of 2018 for withdrawal of the Execuri: r petition Iiled under Section 36 of the Arbitration and Concilia ion Act. 4 J 6 That, it is agreed between the parties, that they shal :ooperate with each other in hling of the separate or joint app I cation(s), as required, before the Hon'ble High Court of Tela r lana and Hon'ble Commercial Court Cum XXIV Addl- Chiel , r dge, City Civil Court, Hyderabad, Telangana immediatelv tfter the signing and execution of this Memorandum of Settler rcnt. That, subject to the above apportionment of Balanr:r together with the accrued interest till the date of relr i the ratio agreed herein, both the parties .l-rereby agr c the issues have been fully and finally settled and ne r will have any claim against or money due to the ol tncluding satisfaction o[ [he award dated 22.12 2Ol't . Amount se as per : tha t a.l1 rer party rer party That, it is mutually agreed betwcen the parties disputes between the parties stand finally closed anr tcrms of thrs Memorandum of Settlement. BoLh t r confirm that they shall not take any further steps ln r any of the dispute/s between the parties except as rr in the above clauses ald the money to be received by tl in the ratio agreed herein, from the Balance Amount l the Registry of Hon'ble High Cour t together with the interest thereon till the date of release in tern:: Memorandum of Settlement is towards full ald hnal r;r of all tl-re disputes between the partics in relation tc Award dated 22.12.2O17 which is under challenge in ( rhat the ;ettled rn : pa rties lation to :ntioned e partie s 'ing rvitl'r accrued of this ttlement Arbitral OM C,A. iEC, P r t- J ( c LU 2 ..$ 1: {t, \.- \d4 .:|,], I I t i I I I Ij + I: ; 13 of 2021, before the Hon'ble High Court, Telangana and is being enforced in C,E.P. 27 of 2Ol8 (currently stayed) before tJ-e Hon'ble Commercial Court Cum XXIV Addl. Chief Judge, City Civii Court, Hyderabad, Telangana, pa)rynent of all dues including the money due, interest, costs, Iegal expenses or such other claims, which each party may have agatnst the other party. 7 8 9 That, the pa-rties have further agreed to resolve that the terms mentioned in this Memorandum of Settlement shall be binding on both the parties, their respective directors, shareholders, family members, assigns, heirs and both the parties have agreed to undertake to sincerely and honestly abide by the That the present agreement has been arrived between the parties with free will and without any force, coercion or undue- inlluence from any quarter whatsoever. That, the parties shall bear their respective legal expenses, lawyer fees, misc. and out-of-pocket expenses etc. IN WITNESS whereof this Memorandum o[ Settlement between the parties above named have put their hands and signed this settlement in the preseoce of followrng witnesses: M/s KLA Const. Technologies P!'t. Ltd, M/s SHV ENERGY PVT LTD. 1EC ry^ i d Shri Aj ay Authorized Representative 1) Shri Srceman Narayana Ka Authorized Representative 'r*l r! l6--JJ + {a|brE'