The High Court
Case Details
- 1 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 11TH DAY OF MARCH, 2025 PRESENT THE HON'BLE MR JUSTICE V KAMESWAR RAO AND THE HON'BLE MR JUSTICE T.M.NADAF COMMERCIAL APPEAL NO. 148 OF 2023 BETWEEN: M/S SLR METALIKS LTD., SHOP NO. G-19, MANGALAM PARADISE MALL, 502, ROHINI, SECTOR-3, NEW DELHI-110 085, PLANT AT NO. 632, NARAYANADEVARAKERE VILLAGE, LOKAPPANAHOLLA, H.B. HALLI TALUK, BALLARI-583 222. REP. BY ITS AGM, NAGENDRA SAI VARAPRASAD, Digitally signed by K G RENUKAMBA Location: High Court of Karnataka HAVING BRANCH OFFICE AT NO.5, (OLD NO.26), LAXMI NIVAS, GROUND FLOOR, 3RD CROSS, 8TH MAIN, RMV EXTENSION, SADASHIVANAGAR, BENGALURU-560 080. (BY SRI. ABHISHEK .R, ADVOCATE FOR SRI. PAVAN SAGAR, ADVOCATE) …APPELLANT AND: M/S ION EXCHANGE (INDIA) LTD., ION HOUSE, DR. E.MOSES ROAD, MAHALAKSHMI, MUMBAI-400 011. ION HOUSE, C-72, AND 83, ITI, ANCILLARY INDUSTRIAL ESTATE, - 2 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 MAHADEVAPURA, BENGALURU-560 048.
Legal Reasoning
(BY SRI. RAJESH KUMAR .V, ADVOCATE FOR SRI. P. NEHRU, ADVOCATE) …RESPONDENT THIS APPEAL IS FILED UNDER SECTION 13 (1A) OF THE COMMERCIAL COURTS ACT, PRAYING TO SET ASIDE THE JUDGMENT DATED 06/02/2023 PASSED BY THE COURT OF THE LXXXVIII ADDL. CITY CIVIL AND SESSIONS JUDGE (EXCLUSIVE COMMERCIAL COURT) BENGALURU CITY (CCH-89) IN COM.A.P.NO.77/2021 AND ETC. THIS APPEAL COMING ON FOR ORDERS THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE V KAMESWAR RAO and HON'BLE MR JUSTICE T.M.NADAF ORAL JUDGMENT (PER: HON'BLE MR JUSTICE V KAMESWAR RAO) 1. A memorandum of compromise petition has been filed under Order XXIII Rule 3 read with Section 151 of Code of Civil Procedure, by the parties herein i.e., the appellant and the respondent. 2. M/s.SLR Metaliks Limited (the appellant), represented by Mr.B.Nagendra Sai Vara Prasad, Senior AGM- Utilities and M/s.Ion Exchange (India) Limited (respondent), represented by Mr.H.Hassan, Deputy Manager, Accounts, Hosur, as identified by their respective counsel, are present in - 3 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 the Court. Mr.H.Hassan has filed an Authority letter dated 11.03.2025, in his favour and the same is taken on record. 3. Paragraph Nos. 1 to 4 of the memorandum of the compromise petition reads as under: “1. The present appeal has been filed before this Hon'ble court by the Appellants herein being aggrieved by the judgment and decree dated 06.02.2023 passed by the learned LXXXVIII Addl. City Civil and Sessions Judge at Bengaluru in Com.A.P. No. 77/2021 as well as the arbitral award dated 07.08.2021 passed by the arbitral tribunal of the learned sole arbitrator. 2. It is submitted that during the pendency of the present appeal, since both the claimant and the Respondent are reputed companies and have had good relations in the past, at the intervention of well-wishers of both the parties, both the parties herein have come together to amicably resolve their disputes and reach a settlement as per the terms mentioned herein below: i. The Appellant herewith acknowledge and accept the liability of Rs. 16,02,978/- as held by the learned arbitral tribunal to be paid to the Respondents. - 4 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 ii. The Respondents hereby accept that the sum of Rs.16,02,978/- shall be full satisfaction of the amounts due to the Respondents and payable under the present arbitral claim. The Respondents further admit and acknowledge that the sum of Rs. 16,02,978/- shall not carry any interest. iii. The Appellant having already deposited 20% of the total sum of Rs. 16,02,978 i.e., 3,20,596/-before the learned trial court, the Appellant / Petitioner shall be at liberty to withdraw the same and the Respondent shall have no objection. iv. As per the terms of the settlement the Appellant has paid the full satisfaction sum of Rs. 16,02,978/- to the respondent as hereunder: 1) Rs. 12,82,382/- by way of a demand draft No. 103016 dated 19.12.2024 drawn on State bank of India, Bangalore, & 2) Rs. 3,20,596/- by way of a demand draft No. 103525 dated 01.03.2025 drawn on of State India, Bangalore on this date before this Hon'ble court is and same bank the - 5 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 acknowledged Respondents. by the v. Both the parties hereby request this Hon'ble court to pass an order directing the learned LXXXVIII Addl. City Civil and Sessions Judge at Bengaluru before whom the Appellants herein have deposited a sum of Rs. 3,20,596/- in Com. A.P. No. 77/2021, to release the same in favour of the Appellant herein. vi. All the parties to the compromise hereby admit and acknowledge that this compromise shall be binding on them and that they have signed the compromise petition out of their own free will and volition without any manner of coercion, influence having had their respective counsels explain it to them in their mother tongue. vii. Both the parties hereby agree and undertake to do all and any further acts that may be necessary to give effect to the terms of the compromise as entered into herein above. 4. In view of the above facts and circumstances, it has become just and necessary to present the present compromise petition and pray this Hon'ble court to accept and record the same and to pass a decree in - 6 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 terms thereof in the interest of justice and equity.” 4. Mr.B.Nagendra Sai Vara Prasad, representative of the appellant, has handed over two Demand Drafts to Mr.H.Hassan, representative of the respondent, for the amounts of Rs.12,82,382/- and Rs.3,20,596/- as per the details of the demand drafts mentioned in Para No.2(iv)(1) and (2) of the memorandum, that is, demand draft Nos.103016 and 103525. The same have been acknowledged by the representative of the respondent 5. The learned counsel for the appellant states that, the amount of Rs.3,20,596/-, which has been deposited by the appellant before the LXXXVIII Additional City Civil and Sessions Judge at Bengaluru in Com.A.P.No.77/2021, be directed to be released in favour of the appellant herein (Clause 2(v)). 6. Learned counsel for the respondent agreeing to the fact that, the said amount has been deposited before the aforesaid Court, state that, the said amount be released in favour of the appellant. If that be so, the appellant shall file an application before the LXXXVIII Additional City Civil and Sessions Judge at Bengaluru, which will pass an order for - 7 - NC: 2025:KHC:10244-DB COMAP No. 148 of 2023 release with accrued interest if any, after ascertaining from the Registry of the said Court. 7. The representatives of the parties and the counsel state that, the parties shall be bound by the terms of the settlement. 8. The memorandum of settlement and their statements are taken on record. 9.
Decision
Accordingly, the appeal is disposed of. 10. Pending I.A.No.1/2023 for stay do not survive for consideration and stands disposed of. Sd/- (V KAMESWAR RAO) JUDGE Sd/- (T.M.NADAF) JUDGE SMC List No.: 1 Sl No.: 8