IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 27TH DAY OF FEBRUARY 2017 PRESENT THE HON’BLE MR.JUSTICE JAYANT PATEL AND THE HON’BLE MR.JUSTICE N.K.SUDHINDRARAO AP.IM NO.1/2016 BETWEEN:
SHAPOORJI PALLONJI & COMPANY PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT NO.70 NAGINDAS MASTER ROAD, FORT MUMBAI-400 023 HAVING ITS REGIONAL BRANCH OFFICE AT 124,7TH FLOOR, SURYA CHAMBERS OLD AIRPORT ROAD, MURGESHPALLYA BENGALURU-560 017 KARNATAKA REPRESENTED BY ITS AUTHORISED SIGNATORY RAVI PRAKASH KUNDER ...PETITIONER (BY SRI.K.G.RAGHAVAN, SR.COUNSEL FOR SRI.NISCHAL DEV B R, ADVOCATE) AND:
AECOS LTD HAVING ITS REGISTERED OFFICE AT 325 COLUMBIA TURNPIKE FLORHAM PARK, NEW JERSEY-07932 UNITED STATES OF AMERICA REPRESENTED BY ITS DIRECTOR ...RESPONDENT (BY SRI.DHYAN CHINNAPPA, SR.COUNSEL FOR SRI.VIKHAR AHMED B, ADVOCATE) THIS PETITION IS FILED UNDER SECTION 9 OF THE ARBITRATION AND CONCILIATION ACT, 1996, PERSUANT TO AMENDED ACT 3/2016, PRAYING TO DIRECTING THE RESPONDENT TO FURNISH A SUM OF INR. 46,28,54,830/- (RUPEES FORTY-SIX CRORES, TWENTY-EIGHT LAKH, FIFTY-FOUR THOUSAND, EIGHT HUNDRED AND THIRTY INDIAN RUPEES) AS SECURITY BEFORE THIS HON'BLE COURT UNTIL THE ADJUDICATION OF THE DISPUTES MADE BEFORE THE ARBITRATION AND TO GRANT SUCH OTHER RELIEF/S THAT MAY BE DEEMED FIT BY THIS HON'BLE COURT IN THE FACTS AND ON THE CIRCUMSTANCES OF THE CASE, IN THE INTEREST OF JUSTICE AND EQUITY.
THIS PETITION COMING ON FOR ORDERS THIS DAY, JAYANT PATEL J., PASSED THE FOLLOWING:
ORDER The learned counsel for the petitioner as well as counsel for respondents tender the joint memo and state that in view of the joint memo, the petition would not survive.
2. The joint memo is taken on record.
3. The learned counsel appearing for both sides and their respective clients have signed the memo and their respective clients shall abide by the terms and conditions of the joint memo.
4. In view of the above, the petition shall stand disposed of accordingly.
Interim applications shall also not survive for consideration and hence the same shall also stand disposed of.
Sd/- JUDGE Sk/-
Sd/- JUDGE