M/S Lakshmi Nirman (Bangalore) Pvt Ltd v. M/S Bennett Property Holdings Company Ltd.,

ORDER

(i) The application in I.A.No.3/2023 is allowed.

(ii) The interim order dated 19.04.2023 directing the appellant to deposit a sum of Rs.15,00,000/- is modified and the appellant is directed to furnish the bank guarantee for a sum of Rs.15,00,000/- which shall be valid for a period of one year and if the appeal is not decided within that period, the said bank guarantee has to be extended further by six months and so on, till the disposal of the appeal."

¶8It is not in dispute that the aforesaid order is in force till this day and now the matter is posted before the Commercial Court for final hearing on 12.03.2026. We are of the considered view that no purpose would be served to record our finding with regard to the correctness of the impugned order in this appeal. The interest of justice

would be met if we continue the interim order dated

28.07.2023 till the disposal of the Com.A.P.No.25/2023 by the Commercial Court.

¶9Learned counsel for the appellant undertakes that he will ensure that the bank guarantee will be in force till the disposal of Com.A.P.No.25/2023 by the Commercial Court.

¶10Submission is placed on record.

¶11Hence, the following: ORDER i. Appeal is disposed of. ii. The interim order dated 28.07.2023 passed in this appeal is continued till the disposal of the Com.A.P.No.25/2023 by the Commercial Court. iii. The undertaking of the learned counsel for the appellant that he will ensure that the bank guarantee will be in force till the

disposal of Com.A.P.No.25/2023 by the Commercial Court is placed on record.

It is made clear that this Court has not expressed any opinion on the merits of the case.

No order as to costs.

Sd/- (ANU SIVARAMAN) JUDGE

Sd/- (VIJAYKUMAR A. PATIL) JUDGE

BSR List No.: 1 Sl No.: 2

NC:(2026:KHC:12446-DB( COMAP(No.86/2023( ( , ,,HC-KAR( ( ( IN(THE(HIGH(COURT(OF(KARNATAKA(AT(BENGALURU( THDATED(THIS(THE(27 (DAY(OF(FEBRUARY,(2026( PRESENT( THE(HON'BLE(MRS.(JUSTICE(ANU(SIVARAMAN( AND(( THE(HON'BLE(MR.(JUSTICE(VIJAYKUMAR(A.(PATIL( COMMERCIAL(APPEAL(NO.86/2023( ( BETWEEN:(( ( M/S.,LAKSHMI,NIRMAN,(BANGALORE),PVT,LTD, NO.15,,SRIKANTAN,LAYOUT, HIGH,GROUNDS,,BANGALORE,-,560001, REP.,BY,ITS,MANAGING,DIRECTOR, Digitallytisigned SRI.,G.R.,SURESH, by0RUPA0V S/O,RANGARAJAN., Location:0HIGH , COURT0OF …APPELLANT, KARNATAKA (BY,SRI.,B.,VACHAN,,ADV.,), , AND:( ( 1., M/S.,BENNETT,PROPERTY,HOLDINGS,COMPANY,LTD.,, (A,COMPANY,INCORPORATED,UNDER,THE,, PROVISIONS,OF,THE,INDIAN,COMPANIES,ACT,,1956), HAVING,ITS,CORPORATE,OFFICE,AT,, NO.110/37,AND,258, "SOLITAIRE",,CHINNAPPANAHALLI, KRISHNARAJAPURAM,HOBLI, BANGALORE,-,560037, REP.,BY,ITS,AUTHORISED,SIGNATORY,AND,CEO, MR.,VENKATESH,VYAIDANATHAN., , 2., SRI.,VENKATESH,VYAIDNATHAN,, AUTHORISED,SIGNATORY, M/S.,BENNETT,PROPERTY,HOLDINGS,COMPANY,LTD.,, (A,COMPANY,INCORPORATED,UNDER,THE,, PROVISIONS,OF,THE,INDIAN,COMPANIES,ACT,1956),, HAVING,ITS,CORPORATE,OFFICE,AT,, NO.110/37,AND,258, NC:(2026:KHC:12446-DB( COMAP(No.86/2023( ( , ,,HC-KAR( ( ( "SOLITAIRE",,CHINNAPPANAHALLI, KRISHNARAJAPURAM,HOBLI, BANGALORE,-,560037., , …RESPONDENTS, , (BY,SRI.,AMOGHA,R.,SHARMA,,ADV.,,FOR, ,,,,,,SRI.,RAJESWARA,P.N.,ADV.,,FOR,R1,&,R2), , *****, , , THIS,COMAP/COMMERCIAL,APPEAL,IS,FILED,UNDER,SECTION, 13,(1A),OF,THE,COMMERCIAL,COURTS,ACT,,2015,R/W,ORDER,XLIII, RULE,1,(R),AND,SECTION,104,OF,THE,CPC,,PRAYING,TO,CALL,FOR, RECORDS, IN, COM.A.P., NO.25/2023, AND, SET, ASIDE, THE, ORDER, DATED,14.02.2023,PASSED,BY,THE,COURT,OF,LXXXIX,ADDITIONAL, CITY,CIVIL,AND,SESSIONS,JUDGE,,COMMERCIAL,COURT,NO.,90,,AT, BENGALURU, IN, COM.A.P., NO.25/2023, , TO, THE, EXTENT, THAT, A, DIRECTION,HAS,BEEN,MADE,TO,DEPOSIT,THE,PRINCIPAL,AMOUNT, OF,RS.32,17,738/-,AS,A,CONDITION,PRESENT,FOR,GRANTING,THE, STAY,OF,OPERATION,OF,AWARD,DATED,16.11.2022.,,IN,ADDITION, TO, ORDER, FOR, SUCH, OTHER, RELIEFS, AS, THIS, HON'BLE, COURT, DEEMS,FIT,IN,VIEW,OF,THE,FACTS,AND,CIRCUMSTANCES,OF,THE, CASE,,IN,THE,INTEREST,OF,JUSTICE,AND,EQUITY., , , , THIS, APPEAL,, COMING, ON, FOR, ADMISSION,, THIS, DAY,, JUDGMENT,WAS,DELIVERED,THEREIN,AS,UNDER:, , , CORAM:, HON'BLE,MRS.,JUSTICE,ANU,SIVARAMAN, and,, HON'BLE,MR.,JUSTICE,VIJAYKUMAR,A.,PATIL, , ORAL JUDGMENT (PER: HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL) The appeal is filed challenging the order dated 14.02.2023 passed in Com.A.P.No.25/2023 by the LXXXIX Additional City Civil and Sessions Judge, Bengaluru (for short, 'the Commercial Court') to the extent that a direction has been issued to deposit the principal amount of Rs.32,17,738/- as a condition precedent for granting the stay of operation of award dated 16.11.2022. 2. Sri.B.Vachan, learned counsel appearing for the appellant, at the outset, submits that the Commercial Court has heard the matter on merits and now matter is posted for further arguments on 12.03.2026. It is submitted that if the interim order granted by this Court is continued till the disposal of the proceedings before the Commercial Court, the ends of justice would be met. Hence, he seeks to pass appropriate orders in this appeal. 3. Per contra, Sri.Amogha R.Sharma, learned counsel for Sri.Rajeswara P.N., learned counsel for the respondents submits that appropriate orders may be passed in this appeal so that he can argue the matter on merits before the Commercial Court. 4. His submission is placed on record. 5. We have heard arguments on both side and perused the material on record. 6. It is to be noticed that the appellant herein has filed Com.A.P.No.25/2023 before the Commercial Court, Bengaluru, seeking to allow the claim petition filed by the petitioner and to reject the counter claim of the respondents along with an application seeking for stay of the operation of the arbitral award dated 16.11.2022. 7. The Commercial Court under the impugned order stayed the arbitral award with a