IN THE HIGH COURT OF KARNATAKA AT BANGALORE
DATED THIS THE 6TH DAY or' ocroeergzfooéiepeee. pp
BEFORE
THE HON'BLE Mr.JUSTIC-EMAJIT
CMP No.212 or5«2o-as
BETWEEN:
Parkway Developments Pvt.Ltd.',- . _
A Company incorporated under" :4 V _
The Companies Act aI1d.hav¥.i_ng_' ; on r
Its Registered Office at Unit I\C2fo;L'-:'O9.,_ "
2nd Floor, Richmond Towers, _ ' . V'
No.12, Richrnond 'Road, 1: " f.
BangaIore»5.6:O 025?; - jg Q . ...PETITIONER
(Sri Vijayasf1~ani:ifs.r_, M / s.Kjng &
Partridge, {Advise} ' _
AND:
IDEBV Projeots _(P;~ .I_§td;','- 'C
A Company incorporated under
" «-The .CoI2g1pan.jes Aefand having
Itsvfiegisteredflffice at 91" and 10*"
C' l_"ieor',' S'1g_§n1a.Vh'Software Tech Park,
No.'7,__Whifefie}d'Main Road,
Opp, Varthxnj Lake,
.;-- _ Bang"a1o1*e~580 O66,
'Represented herein by
_ V' V its Managing Director,
C "I\/1r..I_'*I.S.}3edi. ...RESPONDENT
C’ Aravlnd Kamath, Adv. for ALMT Legal}
the shareholders agreement clearly stipulated–.__ that
various decisions must be made by consen’t«,of-fbo’th
shareholder groups. But however, the said
ran into rough weather, .ir1asInu_ch .; celtain
differences had arisen between ;’the pevi:iti’on’e1~a’nd’=.,
respondent. The petitioner;”~,ha\ring_: the
differences between thewiiresépondent
pursuant to a letter proposing to
terminate shareI1o:i’dé:rS.._..,V:agreement. The
respondent, it said communication,
termination of the agreement.
The petitioner,’ to the arbitral clause in
the sharehoid_ers.iagreeérnent, issued a notice, calling
‘”‘«.,1A;ponthe respondent to agree for the nominee and
su’u_m’it”di’ep.ute to the arbitrator as per C1ause-8 of
the »agreve-rrI.e,nt, Since, the said request was not adhered
~ toby therespondent, the present petition is filed.
Mr.Vijaya Shankar, learned senior counsel
appearing for the petitioner submits that having regard
V
(2) Justice K.Shivashankar Bhat, former Judge,
No.40 I / 29, 12*’ Main, RMV EXten”s–i»Qn,
Sadashivanagar, Bangalore 5600804′ _» ‘_ _
Justice R.Gururajan, former Judge;Cfhitifavptifaf
Appts., N0.504, ‘sn Har:=;h’:”<Vv:'Jie?i13a:\%:5m%1é:jog;.,e '1V5Athj«
Cross, Maileswaram, 1?»e111.V:c§,faI0re:V!':':-€:"i£').OO'3
appointed as Arbitrstots. _ They tliffn shall
appoint an L{u1.ipire.'_VAVas'VA vt"p1e_r.vVVt'{:lause of the
share holders agfeentent_ ' 1» ..
(3) The reference and
[4Vj”Regist1yVV.’t§)._:e’offim~unieate this order to the
5
. A, arbitrsttors
Q Astarltihshhtcéivisposed of accordingiy.
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IUDGE