Shubhadra Realtors Private Limited v. First Estate Properties Private Limited

Order dated

06.12.2023 until further orders, and continues to remain in force as on date.

¶2In the meantime, by virtue of an Order dated

17.03.2025 in Arbitration Petition No. 11/2024 passed by the Hon'ble Supreme Court of India, the Hon'ble Arbitral Tribunal has since been constituted

to adjudicate the claims, counterclaims, and disputes between the contesting parties.

¶3In view of the constitution of the Hon'ble Arbitral Tribunal, and in keeping with the legislative scheme underlying the A&C Act, the Petitioner requests, and the Respondents consent, that the present Petition be disposed of, with liberty expressly reserved to the Petitioner to file appropriate application(s) under Section 17 of the A&C Act before the Hon'ble Arbitral Tribunal for grant of interim reliefs in terms similar to those sought in the present proceedings, on or before 04.06.2026.

¶4Further, the Petitioner requests, and the Respondents consent, that the Ad-Interim Order dated 15.06.2023 (as extended from time to time) be continued and remain in full force and effect until the consideration and disposal of the Petitioner's application(s) for Interim reliefs under Section 17 of the A&C Act by the Hon'ble Arbitral Tribunal.

¶5This Joint Memo is filed without prejudice to the respective claims, contentions, and rights of the Parties in the arbitral proceedings and all the contentions of the Parties are kept open. WHEREFORE it is most humbly prayed that this Hon'ble High Court be pleased to accept this Joint

Memo and dispose of the above Petition in terms hereof, in the interests of justice and equity."

¶2It is to be noticed that this Court has passed an interim order on 15.06.2023. The said interim order has been extended. It is further submitted that in terms of the joint memo, the liberty is reserved to the petitioner to file appropriate application under Section 17 of the Arbitration and Conciliation Act, 1996 before the Tribunal for grant of interim relief. It is further noticed that in terms of the joint memo, both the parties have agreed that ad interim order dated 15.06.2023 may be extended till consideration and disposal of the petitioner's application for interim relief as referred to, that is to be moved in terms of the observations at Paragraph 3 of the joint memo.

¶3In the light of the above, the petition is disposed of. Interim order passed on 15.06.2023 would continue to operate till the necessary motion is made and orders passed in terms of the observations made at Paragraph 3

of the joint memo as regards the application of the petitioner for interim relief.

¶4All contentions on merits are kept open.

¶5Office to return certified copies / original if any, after retaining the Photostat copies for reference.

¶6Needless to state that observation at Paragraph 3 regarding motion to be made by the petitioner regarding interim relief is to be made on or before 04.06.2026 as found at Paragraph 3. SD/- (S SUNIL DUTT YADAV) JUDGE GH List No.: 3 Sl No.: 1

e -e1e-eeeee e e NC:(2026:KHC:21671 AP.IM(No.(2(of(2023 IN(THE(HIGH(COURT(OF(KARNATAKA(AT(BENGALURU( STDATED(THIS(THE(21 (DAY(OF(APRIL,(2026( BEFORE( THE(HON'BLE(MR.(JUSTICE(S(SUNIL(DUTT(YADAV( ARBITRATION(PETITION-INTERIM(MEASURE(NO.(2(OF(2023( BETWEEN:( SHUBHADRA,REALTORS,PRIVATE,LIMITED, A,COMPANY,INCORPORATED,UNDER,THE, COMPANIES,ACT,1956, BEARING,CIN:,U70109WB2006PTC111280, HAVING,ITS,CORPORATE,OFFICE,AT, NO.3,,4,FLOOR,, SALARPURIA,WINDSOR,, ULSOOR,ROAD,, BENGALURU,-,560,042, REPRESENTED,BY,ITS,AUTHORIZED, REPRESENTATIVE, MR.,ASHWIN,SANCHETI, …PETITIONER, Digitally (BY,SRI.,P.,CHINNAPPA,,ADVOCATE), signedtiby VIJAYA0P Location: AND: HIGH COURT0OF KARNATAKA 1., FIRST,ESTATE,PROPERTIES,PRIVATE,LIMITED, A,COMPANY,INCORPORATED,UNDER,THE, COMPANIES,ACT,1956, HAVING,ITS,REGISTERED,OFFICE,AT, 11/1,,PLAIN,STREET,,OFF,INFANTRY,ROAD,, BENGALURU,-,560,001, REPRESENTED,BY,ITS,DIRECTOR,, MR.,PRADEEP,JOE, e -e2e-eeeee e e NC:(2026:KHC:21671 AP.IM(No.(2(of(2023 2., MR.,PRADEEP,JOE, SON,OF,LATE,JOSEPH,VARKEY, AGED,ABOUT,56,YEARS,, HAVING,HIS,OFFICE,AT, 11/1,PLAIN,STREET,,OFF,INFANTRY,ROAD,, BENGALURU,-,560,001, 3., VARKEY,PROPERTY,INVESTMENTS,PRIVATE,LIMITED, A,COMPANY,INCORPORATED,UNDER,THE, COMPANIES,ACT,1956,, HAVING,ITS,REGISTERED,OFFICE,AT, 11/1,PLAIN,STREET,,OFF,INFANTRY,ROAD,, BENGALURU-,560,001, REPRESENTED,BY,ITS,DIRECTOR,MR.,PRADEEP,JOE., 4., ARACKAL,HOLDINGS,PRIVATE,LIMITED, A,COMPANY,INCORPORATED,UNDER,THE, COMPANIES,ACT,1956, HAVING,ITS,REGISTERED,OFFICE,AT, 11/1,,PLAIN,STREET,,OFF,INFANTRY,ROAD,, BENGALURU-,560,001, REPRESENTED,BY,ITS,DIRECTOR,MR.,PRADEEP,JOE, 5., ELBIT,IMAGING,LIMITED,, (FORMERLY,ELBIT,IMAGING,LIMITED), A,COMPANY,INCORPORATED,IN,ISRAEL, HAVING,ITS,REGISTERED,OFFICE,AT, 3,,SHIMSON,STREET,,, OLYMPIA,A,TOWER,,PETACH,TIKVA,, ISRAEL,-,4912502, REPRESENTED,BY,ITS,AUTHORIZED, REPRESENTATIVE., …RESPONDENTS, (BY,SRI.,ROHAN,VEERANNA,TIGADI,,ADVOCATE,FOR,C/R1,-,4), e -e3e-eeeee e e NC:(2026:KHC:21671 AP.IM(No.(2(of(2023 , THE, ADVOCATE, FOR, THE, APPELLANT, HAS, FILED, THE, ABOVE, AP.IM, /ARBITRATION, PETITION, INTERIM, MEASURE, UNDER,SEC.,9,OF,THE,ARBITRATION,AND,CONCILIATION,ACT,, 1996,, R/W, SECTION, 2, OF, THE, ARBITRATION, AND, CONCILIATION,(AMENDMENT),ACT,,2015,,PRAYING,THAT,THIS, HONBLE, COURT, BE, PLEASED, TO, GRANT, INTERIM, MEASURES, OF, PROTECTION,, DURING, THE, PENDENCY, OF, THE, ARBITRAL, PROCEEDINGS, AND, UNTIL, THE, FINAL, ARBITRAL, AWARD, IS, PASSED, BY, A, DULY, CONSTITUTED, ARBITRAL, TRIBUNAL, (AS, AND, WHEN, CONSTITUTED),, IN, CONTEXT, OF, THE, MEMORANDUM, OF, UNDERSTANDING, DATED, 25.08.2006, (ANNEXURE, A),, FIRST, SUPPLEMENTAL, AGREEMENT, DATED, 18.01.2007, (ANNEXURE, E),, AND, SECOND, SUPPLEMENTAL, AGREEMENT,,DATED,25.06.2013,(ANNEXUR,G),BY,WAY,OF,-,,,,, A), AN, INTERIM, ORDER, OF, TEMPORARY, INJUNCTION, RESTRAINING, THE, RESPONDENT, NOS., 1, -, 4, (THEIR, SERVANTS,, AGENTS, AND, ALL, OTHER, PERSONS, CLAIMING, THROUGH,OR,UNDER,ONE,OR,MORE,OF,THE,RESPONDENTS), FROM,DIRECTLY,OR,INDIRECTLY,ALIENATING/,MORTGAGING/, PLEDGING/, DEALING, WITH/, ENCUMBERING/, TRANSFERRING/, CREATING, THIRD, PARTY, RIGHTS,, AND/OR, PARTING, WITH, POSSESSION,,IN,ANY,MANNER,WHATSOEVER,,IN,RESPECT,OF, THE,SCHEDULE,'B',PROPERTY,AND,ETC., , THIS,PETITION,,COMING,ON,FOR,ADMISSION,,THIS,DAY,, ORDER,WAS,MADE,THEREIN,AS,UNDER:, CORAM: HON'BLE MR. JUSTICE S SUNIL DUTT YADAV ORAL ORDER 1. The present petition has been filed seeking for grant of interim measures till the arbitral award is passed. In the interregnum, both the parties have filed a joint memo and request that the petition itself be disposed of recording terms of the joint memo. The joint memo reads as hereunder; JOINT MEMO ON BEHALF OF THE PETITIONER AND THE RESPONDENTE NO.1-4. "1. The Petitioner instituted the present proceedings under Section 9 of the Arbitration and Conciliation Act 1996 ("A&C Act"), pleading relevant facts and seeking urgent interim reliefs. This Hon'ble High Court, upon hearing the parties, was pleased to pass an Ad-Interim Order dated 15.06.2023,