ANEX REALTY SERVICES PVT LTD vs SOBHA LIMITED
- Court
- Karnataka High Court
- 1 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
TH
DATED THIS THE 13 DAY OF OCTOBER, 2026
BEFORE
THE HON'BLE MR. JUSTICE H.T. NARENDRA PRASAD
CIVIL MISC. PETITION NO. 399 OF 2026
BETWEEN:
ANEX REALTY SERVICES PVT. LTD.
(FORMERLY KNOWN AS M/S TRESPECT
INDIA PRIVATE LIMITED)
THROUGH ITS AUTHORIZED SIGNATORY
MR. AMITH KUMAR JHA
HAVING ITS REGISTERED OFFICE AT 1002
TH
10 FLOOR, B WING, ONE BKC
G BLOCK, BANDRA KURLA COMPLEX
MUMBAI-400051.
ALSO REGIONAL OFFICE AT
MUNICIPAL KATHA NO.458
MILLENIUM TOWER, KUNDALAHALLI VILLAGE
K R PURAM, BENGALURU-560037.
…PETITIONER
(BY SMT. A KUNDAVAI, ADVOCATE FOR
SRI. S VIVEKANANDA., ADVOCATE)
AND:
SOBHA LIMITED
HAVING THEIR REGISTERED OFFICE AT SOBHA/
SARJAPUR-MARATHAHALLI
OUTER RING ROAD(ORR)
DEVARABISANAHALLI
BELLANDURU POST
BENGALURU-560103
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 2 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
DULY REP. BY ITS MANAGING DIRECTOR
MR. JAGADISH NANGINENI
…RESPONDENT
(BY SRI. H. MUJTABA., ADVOCATE)
THIS CMP IS FILED UNDER SECTION 11(5 & 6) OF
ARBITRATION AND CONCILIATION ACT 1996, PRAYING TO
CONFIRM THE APPOINTMENT OF MR. PRAKASH RAO JADHAV -
ADVOCATE BENGALURU, KARNATAKA UNDER THE AGES OF
THE ARBITRATION CENTRE - KARNATAKA WITHIN (DOMESTIC
AND INTERNATIONAL) BENGALURU AS THE LD. SOLE
ARBITRATOR OR IN THE ALTERNATIVE, ANY OTHER SUITABLE
PERSON, AS A SOLE ARBITRATOR FOR ADJUDICATION OF
CLAIMS OF THE PETITIONER AS PER CLAUSE 25 OF THE
AGREEMENT DATED 10.06.2020 AS PER ANNEXURE – D
THIS PETITION, COMING ON FOR ADMISSION, THIS DAY,
ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR. JUSTICE H.T. NARENDRA PRASAD
ORAL ORDER
1. This petition is filed under Section 11(5 & 6) of the
Arbitration and Conciliation Act, 1996 (for short, “the
Act”), seeking the appointment of a Sole Arbitrator for
adjudication of the disputes that have arisen between the
parties under the Agreement dated 10.06.2020,
particularly in terms of Clause 25 thereof, produced at
Annexure-D.
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 3 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
2. Pursuant to the service of notice issued by this Court,
the respondent entered appearance through its counsel.
3. Today, the parties have filed a Joint Memo along with
a Settlement Agreement dated 13.10.2026, duly executed
between them, stating that the disputes between them
have been amicably settled. In terms of the Settlement
Agreement, the respondent has paid a sum of
Rs.20,00,000/- (Rupees Twenty Lakhs only) to the
petitioner by way of Demand Draft bearing No.405514
dated 09.10.2026, drawn on Axis Bank. The petitioner has
acknowledged receipt of the said amount.
4. The Joint Memo and the Settlement Agreement are
taken on record.
5. The contents of the Joint Memo read as follows:
“JOINT MEMO FILED BY THE PETITIONER AND
THE RESPONDENT
The Petitioner and Respondent jointly submit
as follows:
1. The Petitioner has filed the above petition
against the Respondent seeking appointment of
a sole arbitrator for adjudications of the
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 4 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
disputes said to have been arisen under the
Channel Partner Agreement dated 10.06.2020.
This Hon'ble Court issued emergent notice to
the Respondent by order dated 14.08.2026,
returnable on 13.10.2026.
2. The Respondent has denied any liability to
the Petitioner pursuant to the demand notice
issued by the Petitioner. With the intention of
putting an end to the litigation, and without
admitting any liability, the Respondent has
agreed to pay, and the Petitioner has agreed to
accept, a sum of INR 20,00,000/- (Indian
Rupees Twenty Lakhs only) in full and final
settlement of the entire claim of the petitioner
arising under the said Channel partner
Agreement dated 10.06.2026.
3. The petitioner and respondent submits that
during the pendency of the above petition, the
Parties to the lis have settled the matter out of
court by entering into a Settlement Agreement
dated 13.10.2026 ("Settlement Agreement”)
copy of which is annexed to this Joint Memo as
Annexure-1 and forms part of this Joint Memo.
4. Both the parties state that, in terms of the
said Settlement Agreement, the Respondent
has paid, and the Petitioner has received, a
sum of INR 20,00,000/- {Rupees Twenty Lakhs
only} by way of a Demand Draft bearing No.
405514 dated 09.10.2026 drawn on Axis Bank
Ltd., and Payable at Par, Bengaluru, in full and
final settlement of the entire claim of the
Petitioner in relation to the transaction in
question. The Petitioner has no further claim/s
of whatsoever nature against the Respondent
in relation to the said transaction.
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 5 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
5. In the circumstances, the petitioner does not
wish to proceed further and press the present
petition.
WHEREFORE, both the petitioner and the
respondent most respectfully prays that this
Hon'ble Court may be pleased to take this Joint
Memo and the Settlement Agreement on
record, and dispose of the petition as settled in
terms thereof, in the interest of justice.”
6. The contents of the Settlement Agreement read as
follows:
“This Settlement Agreement (hereinafter referred as
"this Agreement") is executed at Bengaluru on 13th
day of October, 2026 ("Effective Date"):
BY AND BETWEEN
Anex Realty Services Private Limited (Formerly
Trespect India Private Limited) a company registered
under the Companies Act, 2013 having its registered
office at 1002, 10th Floor, B Wing, One BKC, Plot No.
C- 66, G Block, Bandra Kurla Complex, Bandra East,
Mumbai 400051 through its authorized representative
(Manager) Mr. Amit Kumar Jha, duly authorized vide
board resolution dated 29.04.2025 (hereinafter
referred to as "First Party" which term shall unless
repugnant to the context or contrary to the meaning
thereof be deemed to mean and include its
successors-in-interests, nominees, permitted assigns,
executors, administrators and legal representatives)
being party of the FIRST PART;
AND
Sobha Limited a company registered under the
Companies Act, 1956 having its registered office at
Sobha, Sarjapur-Marathahalli Outer Ring Road,
Devarabisanahalli, Bellandur Post, Bengaluru -
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 6 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
560103, Karnataka through its authorized
representative (Deputy General Manager-Legal) Mr.
Prasad. M.S, duly authorized vide board resolution
dated 23.01.2020, (hereinafter referred to as the
"Second Party" which term shall unless repugnant to
the context or contrary to the meaning thereof be
deemed to mean and include its successors-in-
interests, nominees, permitted assigns, executors,
administrators and legal representatives) being party
of the SECOND PART;
The "First Party" and "Second Party" are hereinafter
individually referred to as such and collectively be
referred to as the "Parties".
WHEREAS:
A. The Parties had entered into a commercial
transaction wherein the First Party was appointed by
the Second Party to provide real estate brokerage
services for which one Channel Partner Agreement
dated 10.06.2020 was executed between the Parties
("CP Agreement"). The CP Agreement, the services
said to have been rendered by the First Party
thereunder, and all dealings, bookings, sales,
payments and transactions relating thereto are
collectively referred to in this Agreement as the
"Transaction".
B. Thereafter, after the expiry of the term of the said
CP Agreement, the first party, issued multiple
communications/notices to the Second party, claiming
a sum INR 90,81,068/- (Indian Rupees Ninety Lakhs
Eighty-One Thousand and Sixty-Eight only) with
interest, and also invoked the arbitration clause
contained in the said C.P. Agreement. The Second
Party had issued replies to all the said
communications/notices issued by the First Party
specifically, expressly and consistently denying any
liability and thereby refused to comply with the
demand made by the first party in the said
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 7 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
communications/notices and also refused to agree to
arbitration.
C. In the circumstances, therefore,, the First Party
filed a petition/application before the Hon'ble High
Court of Karnataka, Bengaluru, under section 11 (6)
of the Arbitration & Conciliation Act, 1996 on
22.07.2026 bearing C.M.P No. 399/2026 seeking for
the appointment of a sole arbitrator for adjudication
of the disputes said to have been arising under the
said CP agreement. The said petition was listed before
the Hon'ble High Court on 14.08.2026 and the
Hon'ble High Court of Karnataka was pleased to issue
emergent notice to the Second Party vide order dated
14.08.2026 returnable by 13.10.2026. And
accordingly, the First Party through the High Court of
Karnataka issued the said notice.
D. During the course of the interval, and without
prejudice to their respective rights and contentions,
representatives of both the Parties, in view of the
business relationship explored for a potential
opportunity for a mutual settlement between the
Parties and to put an end to the litigation.
E. The Parties represented by their respective
business leaders met on multiple sittings at
Bengaluru, Karnataka for an in-person meeting and
after a prolonged discussion, the Parties mutually
agreed to arrive at a settlement of the disputes under
the said CP agreement. While continuing to deny any
liability, and solely with the intention of putting an
end to the litigation, the second party has agreed to
pay, and the first party has agreed to accept, one-
time settlement amount of INR 20,00,000/- (Indian
Rupees Twenty Lakhs only) payable by the second
party to the first party in full and final settlement of
the entire claim of first party in relation to the
Transaction, {disputes arising under the said CP
agreement which is currently the subject matter of
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 8 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
the petition in CMP No.399/2026 pending before the
Hon'ble High Court of Karnataka, Bengaluru} on the
terms and conditions recorded in this Agreement.
NOW THEREFORE, THIS AGREEMENT HEREBY
RECORDS THE UNDERSTANDING AND AGREEMENT
OF THE PARTIES AND WITNESSETH AS UNDER:
In consideration of the settlement arrived at between
the Parties, the foregoing recitals, mutual covenants,
representations, warranties, terms and conditions and
understanding set forth in this Agreement and other
good and valuable consideration, the Parties with the
intent to be legally bound hereby agree as under,
subject to the terms of this Agreement:
1. In consideration of the mutual covenants and
obligations as set out herein, the Second party has,
this day simultaneously with the execution of this
Agreement, paid a total sum of INR 20,00,000/-
(Indian Rupees Twenty Lakhs only) ("Settlement
Amount") to the first party, by way of Demand Draft
bearing No.405514 dated: 09.10.2026 for
INR.20,00,000/-, drawn on Axis Bank Ltd., and
Payable at Par, Bengaluru in favor of the first party
namely "Anex Realty Services Private Limited" in full
and final settlement of the entire claim of the first
party arising under the said Channel Partner
Agreement dated 10.06.2020 and the proceedings
before the Hon'ble High Court of Karnataka in CMP
No.399/2026.
2. The First Party hereby acknowledges the receipt of
the said entire sum of INR 20,00,000/- (Indian
Rupees Twenty Lakhs only) ("Settlement Amount") in
the aforesaid manner by way of Demand Draft, in full
and final settlement of its entire claim towards the
Second Party arising under the said Channel Partner
Agreement dated 10.06.2020 and the proceedings
before the Hon'ble High Court of Karnataka in CMP
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 9 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
No.399/2026 and that this Agreement shall also
operate as a valid receipt and discharge for the
Settlement Amount. The Second Party's obligation to
pay the Settlement Amount stands fully discharged
upon delivery of the Demand Draft to the First Party.
3. The said entire sum of INR 20,00,000/- (Indian
Rupees Twenty Lakhs only) paid by the Second Party
to the First Party is a lump sum settlement amount
and is inclusive of all taxes, duties and levies
(including GST, if applicable). The First party shall be
solely responsible for all tax and statutory liabilities if
any arising on its receipt of the Settlement Amount.
The Second Party shall not be liable to pay any
further amount either in present or in future over and
above the Settlement Amount, whether towards
interest, costs, taxes, expenses or otherwise.
4. The Parties agree that this out-of-court settlement
shall be brought to the notice of the Hon'ble High
Court of Karnataka in the petition filed by the first
party in CMP No.399/2026 by filing a Joint Memo by
both the Parties, enclosing a copy of this Agreement
as a part of the Joint Memo. The Joint Memo has been
signed on the Date of execution of this agreement by
the authorized signatories of the Parties and their
respective advocates, and a copy of this Agreement
shall be annexed to and form part of the Joint Memo.
5. The Joint Memo, along with a copy of this
Agreement, shall be filed before the Hon'ble High
Court forthwith and, in any event, on or before the
next date of hearing of the CMP (presently
13.10.2026). The First Party shall, through its
advocate on record, take all steps necessary to file
the Joint Memo and to secure disposal of the said
petition in CMP No.399/2026 in terms of the joint
memo, and the Second Party shall, through its
advocate on record, cooperate in the same.
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 10 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
6. The Parties shall jointly pray that the CMP be taken
as settled and disposed of in terms of the Joint Memo
and this Agreement. The First Party shall not press for
the appointment of an arbitrator as sought for in the
said petition.
7. The First Party hereby irrevocably withdraws all the
communications, emails, notices issued by it to the
Second Party.
8. This Agreement shall be effective and binding on
both the Parties on and from the Execution Date
itself. The original of this agreement shall be retained
by the Second Party 'SOBHA LIMITED' and a copy
thereof duly attested by both the parties shall be filed
in CMP No.399/2026 along with the joint memo.
9. Both the Parties represents, declares and warrants
to each other that:
(a) The Parties have full power to execute and deliver
this Agreement and to consummate the transaction
contemplated herein.
(b) There is no legal impediment or bar within the
knowledge of the Parties whereby the Parties need to
obtain any permission or clearance or consent of any
authority and/or third party (as may be required
under law) for the Parties to vest the absolute right
on the consideration amount of the settlement
amount.
10. The First Party further declares that, all disputes
and claims arising out of or in connection with the
Channel Partner Agreement dated 10.06.2020,
including the proceedings initiated by the First Party
in CMP No.399/2026, have been fully and finally
resolved and settled by these presents. Henceforth,
the First Party shall have no further claim of any
nature whatsoever against the Second Party in
respect of the Channel Partner Agreement dated
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 11 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
10.06.2020 or the transaction in question and shall
not raise, pursue or initiate any further proceedings,
complaints, claims, suits, litigation or other
proceedings of whatsoever nature against the Second
Party and/or its directors, officers or representatives
in relation to the said transaction or the disputes
arising therefrom.
11. If the First Party fails or refuses to cooperate in
filing the joint memo and disposal of the petition in
CMP No.399/2026, the Second Party shall be entitled,
without prejudice to its other rights, to file a memo
along with the Settlement Agreement along with proof
of payment of the Settlement Amount, and to request
the Hon'ble Court that the CMP be disposed of as
settled or dismissed as not surviving. The First Party
shall not seek to continue, revive or restore the CMP
or initiate any fresh proceeding in respect of the
Transaction. In such an event, the First Party shall be
liable for damages.
12. The Parties represent that this Agreement has
been arrived at between the Parties without any
undue influence or pressure, coercion and duress and
the same has been arrived at with their own free will,
consent and after fully understanding the implications
of having arrived at this Agreement and hence
binding on the Parties.
13. The Parties unequivocally agree that the terms of
this Agreement would supersede all terms and
conditions under all previous agreements/
documents/ correspondence/ notices/ emails
exchanged between the Parties.
This Settlement Agreement has been executed in
duplicate, with one original counterpart being retained
by the First Party and the other original counterpart
being retained by the Second Party, and both
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
- 12 -
HC-KAR
NC: 2026:KHC:57452
CMP No. 399 of 2026
CNR: KAHC010504962026
counterparts shall constitute one and the same
instrument.”
7. In view of the settlement arrived at between the
parties and in terms of the Joint Memo and the Settlement
Agreement dated 13.10.2026, the petition stands disposed
of.
Digitally Signed by NARENDRA PRASAD
HAREKOPPA THIMMANNA GOWDA
(H.T. NARENDRA PRASAD)
JUDGE
DM
LIST NO.: 1 SL NO.: 12