Mr.Appaiah P.B., learned counsel for the appellant.

Mr.Prakash B.N., learned counsel for the respondent.

This appeal under Section 13(1A) of the Commercial

Courts Act, 2015 read with Section 37(1)(c) of the

Arbitration and Conciliation Act, 1996, has been filed

against the judgment dated 20.12.2021 passed in

Com.A.S.No.103/2019 by the LXXXV Additional City Civil

and

Sessions

Judge,

Bengaluru

(for

short,

'the

Commercial Court') by which the petition under Section

34 of the Arbitration and Conciliation Act, 1996 has been

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allowed and the award passed by the Arbitrator has been

set aside.

2.

Learned counsel for the parties, while inviting

the attention of this Court to the compromise petition filed

on behalf of the parties, submit that the dispute between

the parties has been amicably resolved.

3.

The terms and conditions of compromise

arrived at between the parties read as under:

"III. The Appellant and Respondent mutually

agree that the arbitral award dated 19.02.2019

passed

by

the

Ld.Sole

Arbitrator

in

A.C.No.102/2018 before the Arbitration &

Conciliation Centre - Bengaluru, be modified as

follows:

1)

The Appellant and Respondent hereby

withdraw their respective claims and counter-

claims

against

each

other

as

made

in

A.C.No.102/2018;

2) The Respondent acknowledges that the

Schedule 'B' building built by the Appellant on

the Schedule 'A' property owned by the

Respondent has been built in accordance with

the agreed specifications and the sanctioned

plan dated 01.12.2007 and modified sanctioned

plan dated 30.04.2008 issued by the Bruhat

Bengaluru Mahanagara Palike (BBMP) and that

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the BBMP has issued its Occupancy Certificate

dated 28.09.2010 for the Schedule 'B' building;

3) Neither party is required to pay the other

any amount on any accounts whatsoever,

except as hereinafter stated;

4) The Appellant and Respondent hereby agree

to share the Schedule 'A' property and the

Schedule

'B'

building

thereon

between

themselves on an "as-is-where-is" basis in the

following

ratio:

55%

(Fifty

five

percent)

undivided share to the Appellant; 45% (Forty

five

percent)

undivided

share

to

the

Respondent;

5) Upon such sharing, the Appellant and

Respondent will become the absolute owners of

their

respective

undivided

shares

of

the

Schedule 'A' property and the Schedule 'B'

building (hereinafter "Schedule Properties" for

short);

6) The Appellant and Respondent will mutually

engage the services of a realtor, viz., M/s.

CBRE, or any other mutually acceptable realtor,

to find a buyer for the Schedule Properties and

sign such mandate / contract with such realtor

as may be required incorporating the terms of

this settlement in so far as it relates to sharing

the

sale

consideration

for

the

Schedule

properties in the agreed ratio of 55% (Fifty five

percent) to the Appellant and 45% (Forty five

percent) to the Respondent;

7) The Appellant and Respondent agree to file a

joint memo or other required application in A.A.

No.25002/2012 (disposed of on 06.10.2020 by

the Ld. LXXIII Addl. City Civil & Sessions Judge,

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(CCH-74), Mayo Hall, Bengaluru), to retrieve all

the original title deeds and other original

documents

pertaining

to

the

Schedule

Properties and the same will be handed over to

their mutual friend Mr. Bijou Kurien to hold in

escrow and make the same available for

inspection

to

prospective

buyers

for

the

purpose of title search / due diligence and to

hand over the same to the buyer of the

Schedule Properties.

8) Upon a buyer being identified for the

Schedule

Properties,

for

a

consideration

acceptable to both parties, the Appellant and

Respondent will jointly convey the Schedule

Properties to such buyer.

9) The Appellant and Respondent agree that

the property tax dues, penalties, statutory and

mandatory dues to BBMP and/or any other

government authority or body on the Schedule

Properties till the date of the final sale /

disposal of the same will be paid from the total

sale consideration receivable / received for the

Schedule