KRISHNA REDDY Vs. KAGITHAPURAM RAVINDER REDDY

JUDGEMENT

(1.) Heard B. Vamshidhar Reddy, learned counsel for the petitioner, Sri Sharad Sanghi, learned counsel for respondent No.1 and Sri N. Vinesh Raj, learned counsel for respondent Nos.2 and 3. Perused the entire record.

(2.) The Tr.C.M.P. is filed to withdraw Arb.O.P.(C.O.P.)No.114 of 2025 pending on the file of the Principal Commercial Court in the cadre of District Judge for trial and disposal of the Commercial Disputes, City Civil Court at Hyderabad ('Commercial Court at Hyderabad'), and to transfer the same to the Court of learned Principal Special Commercial Court in the cadre of District Judge for the trial and disposal of the Commercial Disputes, Ranga Reddy District Court at L.B.Nagar ('Commercial Court at Ranga Reddy District'), to be heard along with C.O.P.No.19 of 2025.

(3.) Respondent No.1 herein filed C.O.P.No.114 of 2025 under Sec. 34 of Arbitration and Conciliation Act, 1996 ('Act') with a prayer to set aside award dtd. 15/12/2024 in Arbitration Case No.1 of 2022 with respect to dismissal of counter claim. The petitioner and respondent No.1 were promoters and directors of M/s.RKR Builders and Promoters Pvt. Ltd.. Thereafter, said business entity was converted into an LLP as M/s. RKR Builders and Promoters LLP-respondent No.3 vide deed dtd. 24/11/2016. On account of some differences, the petitioner was forced to retire from the LLP on payment of sum of Rs.2,21,78,730.00 towards his share in the LLP. Respondent No.2, who is wife of respondent No.1 was inducted as a partner to LLP by executing a supplementary memorandum of understanding dtd. 23/11/2019. Due to disputes, the petitioner invoked arbitration clause and filed an application before this Court vide Arbitration Application No. 77 of 2020. The High Court disposed of the application by appointing respondent No.4 as the Sole Arbitrator. When the application for appointment of an Arbitrator was pending before the High Court, the petitioner invoked Sec. 9 of the Act before the Commercial Court at Ranga Reddy District by filing C.O.P.No.25 of 2020 seeking injunction from alienation with respect to properties of the LLP, as the subject immovable properties are located in the territorial jurisdiction of Ranga Reddy District. When the C.O.P.No.25 of 2020 was filed by the petitioner, the respondents did not object to the same. Sec. 9 petition was partly allowed by the Commercial Court at Ranga Reddy District vide order dtd. 10/10/2022.