IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 31^ST DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR JUSTICE SACHIN SHANKAR MAGADUM CIVIL MISC. PETITION NO.334 OF 2023 BETWEEN:

MR.RAJNISH KAMAT S/O SRI.SHRIPAD JAGANNATH KAMAT AGED ABOUT 50 YEARS RESIDING AT NO.6050 CONTRA ROAD, OAKLAND CA 94618, CALIFORNIA UNITED STATES OF AMERICA REPRESENTED BY HIS DULY CONSTITUTED POWER OF ATTORNEY HOLDER MR. MAHESH MAKHIJA …PETITIONER (BY SRI.SANJAY KRISHNA V, ADVOCATE)

Digitally signed by AND:

NAGARAJA B M Location: HIGH COURT OF 1. M/S.CENTURY REAL ESTATE HOLDINGS PVT. LTD., KARNATKA A PRIVATE LIMITED COMPANY REGISTERED UNDER THE COMPANIES ACT HAVING ITS REGISTERED OFFICE AT NO.10/1, LAKSHMINARAYAN COMPLEX GROUND FLOOR, PALACE ROAD BENGALURU-560 052 REPRESENTED BY ITS AUTHORIZED SIGNATORY MR. MAHESH PRABHU.

2. MR. DEV SATEN PATEL S/O SATEN HIMALAL PATEL AGED ABOUT 52 YEARS DIRECTOR M/S.CENTURY REAL ESTATE HOLDINGS PVT. LTD., RESIDING AT NO.130 RAILWAY PARALLEL ROAD KUMARA PARK (WEST)

BENGALURU-560 020 HAVING OFFICE AT NO.10/1 LAKSHMINARAYANA COMPLEX GROUND FLOOR PALACE ROAD BENGALURU-560 052

3. MR.MAHESH ATTUR PRABHU S/O SUDARSHAN ATTUR PRABHU AGED ABOUT 42 YEARS DIRECTOR M/S.CENTURY REAL ESTATE HOLDINGS PVT. LTD., RESIDING AT NO.246-A

9^TH CROSS, NTI LAYOUT VIDYARANYAPURA BENGALURU-560 097 HAVING OFFICE AT NO.10/1 LAKSHMINARAYANA COMPLEX GROUND FLOOR PALACE ROAD BENGALURU-560 052

4. MR.ASHWIN PANEMANGALORE PAI S/O. SATISH PAI AGED ABOUT 44 YEARS DIRECTOR M/S CENTURY REAL ESTATE HOLDINGS PVT. LTD., RESIDING AT NO.9

8^TH MAIN, RMV EXTENSION BENGALURU-560 080 HAVING OFFICE AT NO.10/1 LAKSHMINARAYANA COMPLEX GROUND FLOOR PALACE ROAD BENGALURU-560 052

5. MR.RAVINDRA PANEMANGALORE PAI S/O DAYANAND PAI AGED ABOUT 47 YEARS DIRECTOR M/S.CENTURY REAL ESTATE HOLDINGS PVT. LTD., RESIDING AT NO.25, FARM HOUSE BELLARY ROAD, BYATARAYANAPURA BENGALURU - 560 092 HAVING OFFICE AT NO.10/1, LAKSHMINARAYANA COMPLEX GROUND FLOOR, PALACE ROAD BENGALURU-560 052

6. MR.UDUPI VIVEKANANDA NAYAK S/O UMANATH U NAYAK AGED ABOUT 53 YEARS DIRECTOR M/S.CENTURY REAL ESTATE HOLDINGS PVT. LTD., RESIDING AT C-21, NAVARATHNA APARTMENTS

17^TH CROSS, MALLESHWARAM BENGALURU-560 003 HAVING OFFICE AT NO.10/1 LAKSHMINARAYANA COMPLEX GROUND FLOOR PALACE ROAD BENGALURU-560 052 …RESPONDENTS (BY SRI. CHANDAN K, ADVOCATE)

THIS CIVIL MISC. PETITION IS FILED UNDER SEC.11(5) OF THE ARBITRATION AND CONCILIATION ACT 1996, PRAYING THIS HON'BLE COURT TO APPOINT A SOLE ARBITRATOR AS PER CLAUSE 10 OF THE JOINT MEMORANDUM OF UNDERSTANDING DATED 08/03/2019 (ANNEXURE-C) AND PASS SUCH OTHER ORDER/S AS THIS HONBLE COURT DEEMS FIT IN THE FACTS AND CIRCUMSTANCES OF THE CASE IN THE ENDS OF JUSTICE AND EQUITY AND ETC.

THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

CORAM: HON'BLE MR JUSTICE SACHIN SHANKAR MAGADUM

ORAL ORDER

A Civil Miscellaneous Petition (CMP) was instituted under Section 11(6) of the Arbitration and Conciliation Act, 1996, with the primary objective of seeking the appointment of an arbitrator for the resolution of disputes between the parties. However, during the pendency of the proceedings, the parties engaged in discussions and arrived at an amicable settlement, thereby resolving their differences mutually. Pursuant to the said settlement, a joint memo was filed before this Court, formally intimating the Court about the resolution of the dispute and setting forth the agreed terms of settlement.

2. In light of the settlement reported by the parties, it is evident that no subsisting arbitrable dispute remains between them, warranting further adjudication through arbitration. Since the very foundation of the present petition was based on the existence of an unresolved dispute necessitating arbitration, and as the same has now been amicably resolved, the necessity for the appointment of an arbitrator ceases to exist.

3. Accordingly, taking note of the settlement arrived at and the joint memo dated 31.01.2025 filed by the parties, the present Civil Miscellaneous Petition s