Bombay High Court
Mahul Sea Breez Co-Op. Housing Society ... vs Swastik Realty Pvt Ltd And 6 Ors on 11 November, 2019
Author: G. S. Patel
Bench: G.S. Patel
19-CONPL126-19.DOC
Atul
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
CONTEMPT PETITION (L) NO. 126 OF 2019
IN
ARBITRATION PETITION NO. 342 OF 2019
Mahul Sea Breez Coop Hsg Soc Ltd ...Petitioner
Versus
Swastik Realty Pvt Ltd & Ors ...Respondents
Mr Sanjiv Sawant, i/b Samir Suryawanshi, for the Petitioner.
Ms Sakina Kothari, i/b Kranti SS Anand, for Respondents Nos. 1 to 5.
Mr Cyrus Ardeshir, i/b Prashant Goyal, for Respondent No. 6.
Mr Aadil Patel, Authorized Representative of Respondent No. 6, is
present.
CORAM: G.S. PATEL, J.
DATED: 11th November 2019 PC:-
1. Admittedly the respondent No. 6 represented by Mr Ardeshir is in default of the undertakings given and commitments made to this court on 23rd September 2019 and 10th October 2019. On the second of these two dates, the 6th respondent delivered three cheques: (i) 7th October 2019 for Rs. 25 lakhs; (ii) 22nd October Page 1 of 4 11th November 2019 ::: Uploaded on - 13/11/2019 ::: Downloaded on - 13/11/2019 21:02:03 ::: 19-CONPL126-19.DOC 2019 for Rs. 25 lakhs; and (iii) 6th November 2019 for Rs. 22,73,552/-.1 The second and third cheques have been dishonoured.
2. On behalf of Mr Ardeshir's clients, Mr Aadil Patel, authorized representative of respondent No. 6, is present in Court. They understand that they cannot expect indefnite indulgence. Mr Ardeshir has instructions to state that the payment of Rs. 25 lakhs will be made by Monday, 18th November 2019 by RTGS or NEFT directly to the petitioner society, the bank details of which are already provided and available with the respondent No. 6.
3. So far as the third payment of Rs. 22,73,552/- is concerned, Mr Ardeshir requests for some accommodation, with a repeated assurance of that undertaking being honoured. For that reason alone, I will grant a limited indulgence, until 5.00 pm on Friday, 6th December 2019.
4. In the event of any default, the directors of 6th respondent will be required to make a complete disclosure in the following terms of their movable and immovable assets, including their personal assets:
(a) Immovable properties: The disclosure will be of all immovable properties wherever situated, whether in India or overseas with complete details sufcient to identify the properties. If any of these are in any way encumbered, full particulars of such encumbrance/s 1 It is agreed that there is a typographical error in the order of 10th October 2019 in mentioning Rs. 25,73,225/- as the amount of the third cheque.
The correct fgure is as noted in this order.
Page 2 of 411th November 2019 ::: Uploaded on - 13/11/2019 ::: Downloaded on - 13/11/2019 21:02:03 ::: 19-CONPL126-19.DOC and the amounts yet due as secured by those properties will also be disclosed.
(b) Movable Assets:
(i) Non-financial: They will also disclose all
non-fnancial movable assets of the
acquisition or replacement value of more than Rs. 50,000/- including all particulars as described above.
(ii) Financial assets: They will also disclose all investments and demat accounts with full particulars, including all holdings and encumbrances.
(iii) Bank accounts: All bank accounts with account numbers, bank names, branches, account types and holding patterns are to be disclosed. Bank statements for the last one year are required for all accounts.
(iv) Bank Lockers: contents of all safety deposit vaults and bank lockers will be disclosed.
(c) Tax and Financial Returns: Copies of all tax and fnancial returns for the last three years are to be disclosed.
Page 3 of 4 11th November 2019 ::: Uploaded on - 13/11/2019 ::: Downloaded on - 13/11/2019 21:02:03 ::: 19-CONPL126-19.DOC (d) Disclosures to be on Afdavit: (i) All disclosures must be on properly sworn afdavits. (ii) Each deponent will make a separate afdavit. (iii) Every afdavit is to be afrmed before a court ofcer. (iv) Afdavits to be serially paginated. (v) Each afdavits to have its own detailed index identifying each disclosure. 5. Liberty to the parties to apply. (G. S. PATEL, J) Page 4 of 4 11th November 2019 ::: Uploaded on - 13/11/2019 ::: Downloaded on - 13/11/2019 21:02:03 :::