M/S. Nitesh Asset Holdings v. Smt.B.R.Mythrai Setty

e -e1e-eeeee e e NC:(2026:KHC:16079 CMP(No.(548(of(2024 IN(THE(HIGH(COURT(OF(KARNATAKA(AT(BENGALURU( THDATED(THIS(THE(16 (DAY(OF(MARCH,(2026( BEFORE( THE(HON'BLE(MR.(JUSTICE(E.S.INDIRESH( CIVIL(MISC.(PETITION(NO.(548(OF(2024( BETWEEN:( M/S.,NITESH,ASSET,HOLDINGS,, A,PARTNERSHIP,FIRM,HAVING,REGISTERED, OFFICE,AT,NO.,25/A,,2ND,FLOOR,,, IMPERIAL,COURT,, CUNNINGHAM,ROD,, BENGALURU,-,560,052., REPRESENTED,BY,ITS,AUTHORISED,SIGNATORY., AND,ALSO,FINANCE,CONTROLLER,AND,BUSINESS,HEAD, MR.,N.,PARASURAM, …PETITIONER, (BY,SRI.,S.S.,NAGANAND,,LEARNED,SR.,COUNSEL,FOR, SMT.SUMANA,NAGANAND,,ADVOCATE), Digitallytisigned AND:by0AASEEFA PARVEEN Location:0HIGH 1., SMT.B.R.MYTHRAI,SETTY, COURT0OF D/O,DR,B,V,RAMALINGA,SETTY,,KARNATAKA AGED,ABOUT,64,YEARS,, ADDRESS,AT,NO.,42/3,,LAVELLE,ROAD,, BENGALURU,-,560,001.,

2., DR,B,R,RAVINDRA,SETTY, S/O,DR,B,V,RAMALINGA,SETTY,, AGED,ABOUT,59,YEARS,, ADDRESS,AT,NO.,42/3,,LAVELLE,ROAD,, BENGALURU,-,560001., e -e2e-eeeee e e NC:(2026:KHC:16079 CMP(No.(548(of(2024

3., M/S.,NITESH,INFRASTRUCTURE,AND, CONSTRUCTIONS,, A,PARTNERSHIP,FIRM,,HAVING,ITS, REGISTERED,OFFICE,AT,NO.,25/A,, 2ND,FLOOR,,IMPERIAL,COURT,, CUNNIGHAM,ROAD,, BENGALURU,-,560,052., REPRESENTED,BY,ITS,PARTNER,

4., M/S.,NITESH,HEALTH,CARE,PVT,LTD, (NOW,KNOWN,AS,VELCRUM,SYSTEMS,AND,DIGITAL, PRIVATE,LIMITED),, A,COMPANY,INCORPORATED, UNDER,THE,PROVISIONS,OF,, THE,COMPANIES,ACT,,1956,, HAVING,REGISTERED,OFFICE,AT,NO.,23/1,,, 1ST,FLOOR,,1ST,MAIN,, VASANTH,NAGAR,,, BENGALURU,-,560001., …RESPONDENTS, (BY,SRI.,BADRI,VISHAL,,ADVOCATE,FOR,R1,AND,R2;, SRI.,KIRAN,V.,RON,,ADVOCATE,FOR,R3;, SRI.,VIGNESH,SHETTY,,ADVOCATE,FOR,R4), , THIS, CIVIL, MISC., PETITION, UNDER, SECTIONS, 11, (5), AND, 11(6), OF, THE, ARBITRATION, AND, CONCILIATION, ACT,, 1996, PRAYING, TO, APPOINT, AN, APPROPRIATE, ARBITRAL, TRIBUNAL, TO, ADJUDICATE, UPON, THE, DISPUTES, THAT, HAVE, ARISEN,BETWEEN,THE,PETITIONER,,AND,THE,RESPONDENTS,, AS, PER, CLAUSE, 21, OF, JOINT, DEVELOPMENT, AGREEMENT, DATED, 15.08.2018, (ANNEXURE-A), AND, GRANT, COSTS, OF, THESE,PROCEEDINGS.,

THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE E.S.INDIRESH ORAL ORDER Heard Smt.S.S.Naganand, learned Senior Counsel appearing on behalf of Smt.Sumana Naganand for the petitioner, Sri.Badri Vishal, learned counsel appearing for respondents No.1 and 2, Sri.Kiran V. Ron, learned counsel for respondent No.3 and Sri.Vignesh Shetty, learned counsel for respondent No.4.

¶2In this petition the petitioner has sought for appointment of an Arbitrator to adjudicate the disputes that have arisen between the parties in relation to the Joint Development Agreement dated 15.08.2018 (Annexure-A), in accordance with the provisions of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as the 'Act').

¶3Having taken note of the submission made by the learned counsels appearing for the parties and upon perusal of Clause (21) of the Joint Development Agreement dated

15.08.2018 (Annexure -A), I am of the considered opinion that, an Arbitrator is to be appointed to adjudicate the dispute between the parties.

¶4Accordingly, this petition under Sections 11(5) and 11(6) of the Act, 1996 is allowed. Hon'ble Justice Srinivas Harishkumar, Former Judge of this Court is appointed to enter into the said reference of Arbitration and act as the Sole Arbitrator in the present case at the Arbitration and Conciliation Centre, Bengaluru, as per the Rules governing the said Arbitration Centre.

¶5All claims and contentions of any of the parties are kept open to be decided by the Arbitral Tribunal.

¶6A copy of this order be sent forthwith to the Arbitration and Conciliation Centre, Khanija Bhavan, Bengaluru, for proceeding further in the matter.

¶7Registry is directed to return all original documents produced by any of the parties after obtaining Photostat copies of the same.

¶8Since the parties are represented through their learned counsel, in order to avoid further delay in the matter, the parties are directed to appear before the Arbitration and Conciliation Centre on 10.04.2026 at 11.00 a.m., without waiting for further notice in this regard. With these observations, CMP is disposed off. Sd/- (E.S.INDIRESH) JUDGE AP List No.: 1 Sl No.: 2.1