Bombay High Court
Chitali Botting Limited vs Brihan Karan Sugar Syndicate Private ... on 5 August, 2022
Bench: G.S. Patel, Gauri Godse
906-OSIAL-19140-2022 IN COMAPL-19047-2022+.DOC
Ashwini
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
IN ITS COMMERCIAL DIVISION
INTERIM APPLICATION (L) NO. 19140 OF 2022
IN
COMMERCIAL APPEAL (L) NO. 19047 OF 2022
IN
INTERIM APPLICATION NO. 897 OF 2020
IN
COMMERCIAL IP SUIT NO. 309 OF 2020
Chitali Bottling Ltd ...Applicant
In the matter between
Chitali Bottling Ltd ...Appellant
Versus
Brihan Karan Sugar Sydicate Pvt Ltd ...Respondent
Dr Abhinav Chandrachud, with Bernardo Reis, Lalit Jhunjhunwala,
Pavan S Patil & Nitin Jagtap, for the Applicant/Appellant.
Mr Sharan Jagtiani, Senior Advocate, with Himanshu Kane,
Nikhil Sharma & Ajaraj Bagwe, i/b WS Kane & Co, for the
Respondent.
Mr SK Dekhale, Court Receiver, is present.
ASHWINI
HULGOJI
GAJAKOSH
CORAM G.S. Patel &
Digitally signed by
ASHWINI Gauri Godse, JJ.
DATED: 5th August 2022
HULGOJI
GAJAKOSH
PC:-
Date: 2022.08.10
14:41:39 +0530
Page 1 of 4
5th August 2022
906-OSIAL-19140-2022 IN COMAPL-19047-2022+.DOC
1. For the present we make the following order in the Commercial Appeal.
1. With a view to explore a possible settlement, the parties agree to the appointment of M/s. Kalyaniwalla & Mistry LLP, as a valuer.
2. The mandate of the appointed valuer will be to value the shares of the company Chitali Bottling Limited.
3. It is expressly made clear that the valuation is not binding on either party. It is intended to facilitate a commercial negotiation or settlement between the parties.
4. The valuation exercise shall be carried out using (i) the DCF method and (ii) the asset valuation method. In addition the valuer may also use any other additional method that the valuer deems appropriate.
5. The costs of the valuer will be borne equally.
6. Both sides undertake to this Hon'ble Court that they will maintain complete confidentiality in respect of any information that they receive or have access to, by reason of the valuation exercise detailed above.
7. The Valuer is hereby directed to keep confidential all information or documents or evidence submitted by either party to him for the purposes of carrying out valuation of the Appellant Company and the Valuer shall not Page 2 of 4 5th August 2022 906-OSIAL-19140-2022 IN COMAPL-19047-2022+.DOC under any circumstances disclose, disseminate or divulge any information provided to him to any third person. The Valuer shall not share copy of any document provided to him by one party with the other party.
8. All documents and information given by either party to the Valuer shall be furnished to the other party. Both parties will maintain complete confidentiality as separately provided for. The names of customers, distributors and suppliers may be redacted from such documents, unless the Valuer requires such redacted portions to be disclosed. Such un-redacted part will be disclosed to the Valuer only.
9. Both the parties undertake to this Hon'ble Court that neither will such information received by reason of the valuation exercise detailed above or the valuation report itself be used in any suit or proceeding before any Court or Tribunal or other forum.
10. Both the parties will be entitled to submit a short report (3 page) representation to the Valuer upon his engagement, copies whereof will be exchanged between the parties. If the Valuer requires an oral explanation from any party, he may call for one provided that such an oral explanation is provided in the presence of the other side.
11. The Valuer shall not directly communicate with the bankers of the Appellant Company.
Page 3 of 45th August 2022 906-OSIAL-19140-2022 IN COMAPL-19047-2022+.DOC
12. The Valuer may visit the plant and factor of the Appellant Company if he so desires, in the presence of both parties.
13. This arrangement is strictly without prejudice to the rights and contentions of both parties in all suits and proceedings between them.
4. List the matter on 6th September 2022 high on board at 10.30 am.
(Gauri Godse, J) (G. S. Patel, J) Page 4 of 4 5th August 2022