{"id":243621,"date":"2009-10-06T00:00:00","date_gmt":"2009-10-05T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/parkway-developments-pvt-ltd-vs-ideb-projects-p-ltd-on-6-october-2009"},"modified":"2016-07-08T00:27:18","modified_gmt":"2016-07-07T18:57:18","slug":"parkway-developments-pvt-ltd-vs-ideb-projects-p-ltd-on-6-october-2009","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/parkway-developments-pvt-ltd-vs-ideb-projects-p-ltd-on-6-october-2009","title":{"rendered":"Parkway Developments Pvt Ltd vs Ideb Projects (P) Ltd on 6 October, 2009"},"content":{"rendered":"<div class=\"docsource_main\">Karnataka High Court<\/div>\n<div class=\"doc_title\">Parkway Developments Pvt Ltd vs Ideb Projects (P) Ltd on 6 October, 2009<\/div>\n<div class=\"doc_author\">Author: Ajit J Gunjal<\/div>\n<pre> \n\nIN THE HIGH COURT OF KARNATAKA AT BANGALORE\n\nDATED THIS THE 6TH DAY or' ocroeergzfoo\u00e9iepeee. pp\n\nBEFORE\n\nTHE HON'BLE Mr.JUSTIC-EMAJIT   \n\nCMP No.212 or5\u00ab2o-as\nBETWEEN:   \n\nParkway Developments Pvt.Ltd.',- . _\n\nA Company incorporated under\"  :4 V _\n\nThe Companies Act aI1d.hav\u00a5.i_ng_' ;   on r \n\nIts Registered Office at Unit I\\C2fo;L'-:'O9.,_ \"    \n\n2nd Floor, Richmond Towers, _  ' . V' \n\nNo.12, Richrnond 'Road, 1:   \" f. \nBangaIore\u00bb5.6:O 025?; - jg    Q . ...PETITIONER\n\n(Sri Vijayasf1~ani:ifs.r_,   M \/ s.Kjng &amp;\nPartridge, {Advise}  '  _\n\nAND:\n\nIDEBV Projeots _(P;~ .I_\u00a7td;','- 'C\nA Company incorporated under\n\n \" \u00ab-The .CoI2g1pan.jes Aefand having\n\nItsv\ufb01egistered\ufb02f\ufb01ce at 91\" and 10*\"\n\nC'  l_\"ieor',' S'1g_\u00a7n1a.Vh'Software Tech Park,\n\nNo.'7,__Whifefie}d'Main Road,\nOpp, Varthxnj Lake,\n\n.;-- _ Bang\"a1o1*e~580 O66,\n  'Represented herein by\n_ V' V  its Managing Director,\nC  \"I\\\/1r..I_'*I.S.}3edi. ...RESPONDENT<\/pre>\n<p>C&#8217;   Aravlnd Kamath, Adv. for ALMT Legal}<\/p>\n<p>the shareholders agreement clearly stipulated&#8211;.__ that<\/p>\n<p>various decisions must be made by consen&#8217;t\u00ab,of-fbo&#8217;th<\/p>\n<p>shareholder groups. But however, the said   <\/p>\n<p>ran into rough weather, .ir1asInu_ch .;  celtain<\/p>\n<p>differences had arisen between ;&#8217;the pevi:iti&#8217;on&#8217;e1~a&#8217;nd&#8217;=.,<\/p>\n<p>respondent. The petitioner;&#8221;~,ha\\ring_:  the<br \/>\ndifferences between thewiires\u00e9pondent<br \/>\npursuant to a letter proposing to<br \/>\nterminate  shareI1o:i&#8217;d\u00e9:rS.._..,V:agreement. The<br \/>\nrespondent, it    said communication,<br \/>\n termination of the agreement.\n<\/p>\n<p>The petitioner,&#8217;  to the arbitral clause in<\/p>\n<p>the sharehoid_ers.iagree\u00e9rnent, issued a notice, calling<\/p>\n<p>&#8216;&#8221;&#8216;\u00ab.,1A;ponthe respondent to agree for the nominee and<\/p>\n<p> su&#8217;u_m&#8217;it&#8221;di&#8217;ep.ute to the arbitrator as per C1ause-8 of<\/p>\n<p>the \u00bbagreve-rrI.e,nt, Since, the said request was not adhered<\/p>\n<p> ~  toby therespondent, the present petition is filed.<\/p>\n<p>  Mr.Vijaya Shankar, learned senior counsel<\/p>\n<p>appearing for the petitioner submits that having regard<\/p>\n<p>V<\/p>\n<p>(2) Justice K.Shivashankar Bhat, former Judge,<\/p>\n<p>No.40 I \/ 29, 12*&#8217; Main, RMV EXten&#8221;s&#8211;i\u00bbQn,<\/p>\n<p>Sadashivanagar, Bangalore 5600804&#8242; _\u00bb  &#8216;_  _<\/p>\n<p>Justice R.Gururajan, former Judge;Cfhitifavptifaf  <\/p>\n<p>Appts., N0.504, &#8216;sn Har:=;h&#8217;:&#8221;&lt;Vv:&#039;Jie?i13a:\\%:5m%1\u00e9:jog;.,e &#039;1V5Athj\u00ab<\/p>\n<p>Cross, Maileswaram, 1?\u00bbe111.V:c\u00a7,faI0re:V!&#039;:&#039;:-\u20ac:&quot;i\u00a3&#039;).OO&#039;3  <\/p>\n<p>appointed as Arbitrstots. _ They tliffn shall<br \/>\nappoint an L{u1.ipire.&#039;_VAVas&#039;VA vt&quot;p1e_r.vVVt&#039;{:lause  of the<br \/>\nshare holders agfeentent_  &#039; 1\u00bb ..\n<\/p>\n<p>(3) The    reference and<\/p>\n<p>[4Vj&#8221;Regist1yVV.&#8217;t\u00a7)._:e&#8217;of\ufb01m~unieate this order to the<\/p>\n<p><span class=\"hidden_text\">5<\/span><\/p>\n<p>. A, arbitrsttors<\/p>\n<p>  Q Astarltihshhtc\u00e9ivisposed of accordingiy.<\/p>\n<p>sd\/~<br \/>\nIUDGE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karnataka High Court Parkway Developments Pvt Ltd vs Ideb Projects (P) Ltd on 6 October, 2009 Author: Ajit J Gunjal IN THE HIGH COURT OF KARNATAKA AT BANGALORE DATED THIS THE 6TH DAY or&#8217; ocroeergzfoo\u00e9iepeee. pp BEFORE THE HON&#8217;BLE Mr.JUSTIC-EMAJIT CMP No.212 or5\u00ab2o-as BETWEEN: Parkway Developments Pvt.Ltd.&#8217;,- . _ A Company incorporated under&#8221; :4 V [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,20],"tags":[],"class_list":["post-243621","post","type-post","status-publish","format-standard","hentry","category-high-court","category-karnataka-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parkway Developments Pvt Ltd vs Ideb Projects (P) Ltd on 6 October, 2009 - Free Judgements of Supreme Court &amp; 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