The High Court
Case Details
- 1 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 9TH DAY OF JULY, 2025 BEFORE
Legal Reasoning
THE HON'BLE MR. JUSTICE ASHOK S.KINAGI CIVIL MISC. PETITION NO. 144 OF 2021 BETWEEN: M/S MICRO LABS LIMITED COMPANY INCORPORATED UNDER COMPANIES ACT HAVING ITS REGD. OFFICE AT No.303 3RD FLOOR, QUEENS CORNER APARTMENT QUEENS ROAD, BANGALORE – 560 001 NOW AS CHANGED AS M/S. MICRO INFRASTRUCTURE INDIA PVT LTD HAVING ITS REGISTERED OFFICE AT NO.31, RACE COURSE ROAD, BENGALURU-560 001 REP. BY ITS DIRECTOR SRI DILIP SURANA S/O GHEWARCHAND SURANA …PETITIONER (BY SRI. K SHRIHARI, ADVOCATE) AND: 1. M/S. ITTINA PROPERTIES PRIVATE LIMITED NO.380, 4TH FLOOR, ITTINA CENTRE, 16TH MAIN, 3RD BLOCK, KORAMANGALA, BENGLAURU-560034. REP. BY ITS ITTINA MANU, DIRECTOR. Digitally signed by SUNITHA K S Location: HIGH COURT OF KARNATAKA - 2 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR 2. 3. 4. ITTINA NAGALAMBIKE, DIRECTOR, NO.380, 4TH FLOOR, ITTINA CENTRE, 16TH MAIN, 3RD BLOCK, KORAMANGALA, BENGALURU-560034. ITTINA MANU DIRECTOR, NO.380, 4TH FLOOR, ITTINA CENTRE, 16TH MAIN, 3RD BLOCK KORAMANGALA, BENGALURU-560034. JAGANNATH GANGADHAR BADIGER DIRECTOR M/s. ITTINA PROPERTIES PRIVATE LIMITED #380, 4TH FLOOR, ITTINA CENTRE 16TH MAIN, 3RD BLOCK, KORAMANGALA BENGALURU - 560 034. 5. DAYANANDA S/o B.M.THIMMA REDDY RANJITHA FARM HOUSE BOMMASANDRA, HOSUR ROAD BENGALURU - 560 099. …RESPONDENTS (BY SRI. NITIN PRASAD, ADVOCATE FOR R1 TO R4 SRI. V. SHIVAKUMAR & SRI. K.R. NAGARAJA, ADVOCATES FOR R5) THIS CIVIL MISC. PETITION UNDER SEC.11 OF THE ARBITRATION AND CONCILIATION ACT 1996, PRAYING THIS HON’BLE COURT TO APPOINT AN ARBITRATOR AS PER CLAUSE 16.3 OF JDA DATED 03.08.2004 TO DECIDE THE LIS BETWEEN THE PETITIONER AND RESPONDENTS AND GRANT SUCH OTHER AND FURTHER RELIEF ON THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE INTEREST OF JUSTICE AND EQUITY. - 3 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR THIS PETITION, COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE ASHOK S.KINAGI ORAL ORDER Learned counsel for the petitioner and respondent No.1 filed a joint memo, which reads as follows: JOINT MEMO OF SETTLEMENT FILED BY THE PETITIONER AND RESPONDENT NO.1 The Petitioner and Respondent No.1 most respectfully submit as follows: Development that have arisen between 1. The present Petition has been filed seeking appointment of an Arbitrator to decide the the disputes Petitioner and Respondent No.1 under the Joint dated Document 03.08.2004, No.8619/2004-05, in the office of the Senior Sub-Registrar, Anekal ("JDA"). The Petitioner and to discussions and negotiations, have arrived at an amicable and binding settlement, on the terms broadly set out below: Agreement as Respondent No.1, registered pursuant A. The Petitioner and Respondent No.1 in cooperation with Micro Labs Limited (the predecessor-in-interest of the Petitioner) shall execute and register a Deed of Cancellation of the JDA and revocation of the General Power of Attorney dated 03.08.2004 registered as Document No. 133/04-05 in the office of the Senior Sub-Registrar, Anekal ("GPA"); - 4 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR B. In consideration inter-alia of: 1. Respondent No.1 foregoing its contractual rights, revenues and entitlements under the JDA; ii. payments made by Respondent No.1 to the Petitioner/Micro Labs Limited and part performance of its obligations under the JDA; ili. Respondent No. 1 foregoing vested legal rights, including waiver of defences and remedies available in law, The Petitioner and Respondent No.1 have agreed that they shall each now be entitled to 50% undivided right, title and interest in the Petition Schedule without Properties, any further consideration payable by Respondent No.1 to the Petitioner and all income and proceeds in whatsoever manner arising out from the Petition Schedule Properties, shall be shared equally between the Petitioner and Respondent No.1. C. Subsequent to the cancellation of the JDA and revocation of the GPA as set out hereinabove, the Petitioner shall be at liberty to enter into any transaction in respect of the Petition Schedule Properties with mutual consent and Respondent No.1. Petitioner between the arrangement D. In the event the Petitioner enters into a Joint Development Agreement or any other understanding similar whatsoever with any third party, the share of the built up area to be allotted to the Petitioner thereunder shall not be less than 25%, of which Respondent No.1 shall be or - 5 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR entitled to half share (i.e. 12.5% or more as the case may be). jointly E. In the event of there being any claims, liabilities or any other outgoings affecting the Petition Schedule Property, the same shall be discharged to mutual agreement by the Petitioner and Respondent No.1 and neither the Petitioner nor Respondent No.1 would be entitled to settle any third party claims unilaterally without the consent of the other. subject F. The Petitioner and Respondent No.1 shall execute and if necessary register any such documents, agreements, whatsoever, in order to implement and give full effect to the terms of settlement contained herein. 2. The above terms are in full and final settlement of all claims of Petitioner/Micro Labs Limited against Respondent No.1 and and any modification or vice amendment thereto shall only be valid and binding if the same is in writing and signed by both the Petitioner and Respondent No.1. versa 3. The instant dispute being only between the Petitioner and Respondent No.1, the present Petition may be dismissed as against Respondent Nos. 2 to 5. 4. It is submitted that the Petitioner and Respondent No.1 have entered into and filed this Joint Memo on their own free will and volition and without any coercion or force from any person. WHEREFORE, it is most humbly prayed that this Hon'ble Court may be pleased to take this Joint Memo of settlement of record and - 6 - NC: 2025:KHC:25045 CMP No. 144 of 2021 HC-KAR dispose of the present Petition in terms hereof, in the interests of justice and equity. The joint memo is taken on record. Accordingly, the petition is disposed of in terms of the joint memo. Sd/- (ASHOK S.KINAGI) JUDGE BVK List No.: 1 Sl No.: 18