Delhi High Court - Orders
M/S Aflle Global Pte Ltd vs Lemma Technologies (I) Private Limited ... on 12 October, 2023
Author: Rekha Palli
Bench: Rekha Palli
$~27
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(I) (COMM.) 222/2023
M/S AFLLE GLOBAL PTE LTD. ..... Petitioner
Through: Mr.Sanjoy Ghose, Sr.Adv. with
Mr.Bharat Chugh, Mr.Mayank Arora, Mr.Aditya
Narayan Shukla, Mr.Prasoon Shekhar, Mr.Rohan
Mandal, Advs.
versus
LEMMA TECHNOLOGIES (I) PRIVATE LIMITED AND ANR.
..... Respondent
Through: Mr.Amit Sibal, Sr.Adv. with Mr.Nitin
Mishra, Ms.Mitali Gupta, Mr.Sohil Shah,
Ms.Nidhi Chaudhary, Advs.
CORAM:
HON'BLE MS. JUSTICE REKHA PALLI
ORDER
% 12.10.2023
1. This is a petition under Section 9 of the Arbitration and Conciliation Act(the Act) seeking the following reliefs:-
"a. Grant ex-parte Ad-interim orders and/or direction to Respondent No. 2 and Respondent No. 3, calling upon them to deposit/furnish Bank Guarantee or FD of Rs. 82,00,00,000 (INR Eighty-Two Crores) (the investment of the Petitioner) before the worthy Registrar of the Hon'ble Delhi High Court.
b. Grant ex-parte Ad-interim orders and/or direction in favour of the Petitioner and against the Respondent, attaching the assets and bank accounts of the Respondent No. 1 and Respondent no. 2., either in totality or place a lien to the extent of 82 crores c. Direct a detailed forensic audit by a third-party auditor appointed by this Hon'ble Court to conduct a detailed audit into the financial health of Respondent no. I and to verify and audit the This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 13/10/2023 at 15:20:49 claims made by the Respondents in the February Lemma Deck, as well at other relevant points in time including an audit of the Revenues, Sales, Billing, No. of Screens amongst others.
d. Direct the Respondents to share all data and information obligated under the SSA and sought by the Petitioner vide various emails (and finally and captured in para 186) with the Petitioner in order to ascertain and disclose the true state of affairs of the Business.
e. Pass an order directing the Respondents to disclose on oath details of all assets, movable or immoveable, tangible or intangible, in which the Respondents have any direct or indirect interest whatsoever; f. Direct the respondent that the Respondents will take no further steps towards disposal of assets except in the ordinary and usual course of business;
g. Pass such other order( s) as it may deem fit and proper in the facts and circumstances of the case."
2. At the outset, learned senior counsel for the petitioner submits that instead of pressing the present petition, the petitioner would be satisfied in case this Court were to appoint a sole arbitrator and preferably Justice Dr.S.Muralidhar, former Chief Justice of Orissa High Court for adjudication of disputes arising out of Share Subscription Agreement dated 25.03.2023 and grant liberty to the petitioner to move an appropriate application under Section 17 of the Act before the learned Arbitrator.
3. Learned senior counsel for the respondents, on instructions, submits that this suggestion is acceptable to the respondents. He further submits that the consent of Justice Dr.S.Muralidhar for appointment as an arbitrator in the present matter has already been obtained by the This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 13/10/2023 at 15:20:49 respondent.
4. In the light of the aforesaid stand taken by the parties, the petition is disposed of by appointing, with the consent of the parties, Justice Dr.S.Muralidhar, former Chief Justice of Orissa High Court[Mobile No. 9872727986] as the sole Arbitrator for adjudication of disputes, which have arisen between the parties in the context of Share Subscription Agreement dated 25.03.2023 and other connected documents.
5. Before entering upon reference, the learned Arbitrator will comply with Section 12 of the Act. The fees of the learned Arbitrator will be governed by Schedule IV of the Act.
6. It is made clear that since this Court has not expressed any opinion on the merits of the rival claims of the parties, it will be open for the parties to file their respective claims/counter claims before the learned Arbitrator which will be considered in accordance with law.
7. Needless to state, in case, the petitioner moves an application under Section 17 of the Act before the learned Arbitrator, the same will be considered expeditiously as per law.
8. A copy of this order be forwarded to the learned Arbitrator for information.
REKHA PALLI, J OCTOBER 12, 2023 sr This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 13/10/2023 at 15:20:50