Bangalore District Court Issued A Reply On 04.02.2013 vs Has Filed Execution Petition In Exc. No. ... on 31 August, 2021 1 Com.AS.No.58/2015 IN THE COURT OF LXXXII ADDL.CITY CIVIL & SESSIONS JUDGE, AT BENGALURU (CCH.83) THIS THE 31ST DAY OF AUGUST 2021. PRESENT: SRI.DEVARAJA BHAT.M., B.COM, LL.B., LXXXII ADDL.CITY CIVIL & SESSIONS JUDGE, BENGALURU. Com.A.S.No.58/2015 BETWEEN: Mr. A. Prasad, Aged about 57 years, S/o Late L. Anjanappa, R/at No. 389, 1st Floor, 13th Cross, Sadashivanagar, Bengaluru 560 080. : PLAINTIFF (Plaintiff is represented by Sri. M.R. Vijaya Kumar Advocates) AND M/s. Nikhil Property Ventures (P) Ltd., represented by its Managing Director, Mr. Bogineni Jagadesshwara Babu, No.760, Bogineni, 2 Com.AS.No.58/2015 2nd Floor, 100 Feer Road, Indiranagar, Bengaluru 560 038. : DEFENDANT (Defendant is represented by M/s. Ravi B Naik Associates Advocates) Date of Institution of the 24.04.2015 suit Nature of the suit (suit on pronote, suit for Petition for setting aside Arbitral declaration & Possession, Award Suit for injunction etc.) Date of commencement of recording of evidence Nil Date on which judgment 31.08.2021 was pronounced Date of First Case Not held Management Hearing Time taken for disposal from the date of 14 days conclusion of arguments Total Duration Year/s Month/s Day/s 06 04 07 (DEVARAJA BHAT.M), LXXXII Addl. City Civil & Sessions Judge, Bengaluru. 3 Com.AS.No.58/2015 JUDGMENT This is a Petition filed under Section 34 of the Arbitration & Conciliation Act, 1996 for setting aside the Arbitral Award dated 18.08.2011 passed by the learned Arbitrator. 2. The Defendant "M/s Nikhil Property Ventures (P) Limited" had invoked the Arbitration Agreement and preferred certain Claims against "Mr. A. Prasad" the Plaintiff. The Plaintiff was placed exparte in the Arbitral Proceedings. 3. The Brief facts leading to the case are as follows: The Plaintiff is the absolute owner of 8 acres 4 guntas in Sy. No. 91, 2 acres 20 guntas and in Sy. No. 86, 1 acre 1 gunta in Sy. No. 87, situated at Madaku Hosahalli village of Chikkaballapura Taluk, that he acquired the same through Registered Sale Deed dated 26.10.2005, that the Plaintiff approach the Defendant for the purpose of marketing and sale of the sites formed out of the said properties, that the Defendant accepted and entered into a Memorandum of Understanding dated 20.07.2007, that the Defendant paid Rs. 50,00,000/ to the Plaintiff, that the Plaintiff has handed over original documents to the Defendant, that the Defendant agreed to complete the project within six months, that as per 4 Com.AS.No.58/2015 Clause 2 of the said Memorandum of Understand the Defendant agreed to arrange for the prospective purchasers, that the Defendant assured to return the original documents after showing the same to the prospective purchasers within six months, but failed to return the same, that as per Clause 5 the Defendant agreed to bring the prospective purchasers and also agreed to sell the sites at Rs. 300/ per sq. ft, that if the Defendant failed to bring the purcahser with in six month within open to the Plaintiff to deal with the properties, that even though the Plaintiff cooperated and furnished all the documents along with sanctioned plan to the Defendant, the Defendant did not come forward sell even a single site, that the Defendant violated the terms and conditions, that the Defendant issued a Legal Notice on 28.01.2013, to which the Plaintiff issued a reply on 04.02.2013, that as per the directions of the Hon'ble High Court of Karnataka in C.M.P. No. 152/2013 dated 22.01.2014, the Arbitration proceedings in A.C No. 11/2014 was commenced and the Impugned Award was passed. 4. Being aggrieved by the said Arbitral Award, the Plaintiff has challenged the same on several grounds, which will be discussed later in the body of the Judgment. 5. The Defendant has filed its detailed objections on 29.07.2017 and prayed to dismiss this petition. 5