Bombay High Court
Marie Gold Realtors Private Limited vs Regus South Mumbai Business Centre ... on 24 February, 2020
Author: G. S. Patel
Bench: G.S. Patel
21-CARBPL6-20.DOC
Arun
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
IN ITS COMMERCIAL DIVISION
COMM ARBITRATION PETITION (L) NO. 6 OF 2020
Marie Gold Realtors Pvt Ltd ...Petitioner
Versus
Regus South Mumbai Business Centre Pvt Ltd &
Ors ...Respondents
Dr Veerendra Tulzapurkar, Senior Advocate, with Mr Zacarias
Joseph, i/b Khaitan & Co, for the Petitioner.
Mr Nachiketa Goyal, with Mr Santosh Mishra, Ms T Chandra and
Mr A Mukherjee, i/b M/s Kochhar & Co, for Respondent No.1.
Mr Venkatesh Dhond, Senior Advocate, with Mr A Singh, for
Respondents Nos. 2, 4, 5 & 6.
CORAM: G.S. PATEL, J.
DATED: 24th February 2020 PC:-
1. There is a so-called Afdavit of Disclosure. Since the 1st Respondent failed to either a make deposit or provide a bank guarantee, this disclosure was to be made.
2. The disclosure is, on the face it, insufcient. Tax Challans and printouts of a Form 26AS are inadequate. The 1st Respondent is a private limited company. It will undoubtedly have audited fnancial returns including balance sheets, proft and loss accounts with all Page 1 of 3 24th February 2020 ::: Uploaded on - 25/02/2020 ::: Downloaded on - 27/02/2020 05:12:20 ::: 21-CARBPL6-20.DOC schedules, auditor's reports and director's reports. These are to be disclosed for the last three accounting years and, for the period April 2019 to December 2019, an unaudited statement with such qualifcation as may be required will also be disclosed. That statement for April 2019 to December 2019 will carry a qualifcation or caveat entered by the statutory auditors of the 1st Respondent stating that those fgures are tentative and subject to audit. There must be a full disclosure of the assets including fxed assets and all movable and immovable assets.
3. I notice from the Disclosure Afdavit that there is a single bank account disclosed. That seems to me to be inconceivable. There is no statement in the Afdavit that this is the only bank account that the 1st Respondent has. There is also no disclosures of investments and holdings including term deposit. I will need particulars of all creditors and debtors including particulars of all loans and advances.
4. That Afdavit is to be fled and served on or before 6th March 2020.
5. List the matter on 11th March 2020.
6. It is clarifed that the injunction previously ordered on 17th January 2020 will extend not only to the assets disclosed in the present Afdavit but to all other assets and therefore, except in the ordinary and usual course of its business, the 1st Respondent is not to dispose of, alienate, part with possession, encumber or create any Page 2 of 3 24th February 2020 ::: Uploaded on - 25/02/2020 ::: Downloaded on - 27/02/2020 05:12:20 ::: 21-CARBPL6-20.DOC third party rights over any of its assets including assets of every description.
(G. S. PATEL, J) Page 3 of 3 24th February 2020 ::: Uploaded on - 25/02/2020 ::: Downloaded on - 27/02/2020 05:12:20 :::