Sourav Chandidas Ganguly vs Percept Talent Management Ltd. ...
2021 Latest Caselaw 12295 Bom

              IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                    ORDINARY ORIGINAL CIVIL JURISDICTION
                                [ COMMERCIAL DIVISION ]

             INTERIM APPLICATION (LODGING) NO.14042 OF 2021
                                                     IN
 COMMERCIAL EXECUTION APPLICATION (LODGING) NO.13320 OF 2021

Sourav Chandidas Ganguly                                          .. Applicant-Judg. Creditor
              Vs.
Percept Talent Management Ltd. and Anr.                           .. Respondents-Judg. Debtors

                        ALONG WITH
       INTERIM APPLICATION (LODGING) NO.17456 OF 2021
                              IN
 COMMERCIAL EXECUTION APPLICATION (LODGING) NO.13320 OF 2021

Sourav Chandidas Ganguly                                          .. Applicant-Judg. Creditor
              Vs.
Percept Talent Management Ltd. and Anr.                           .. Respondents-Judg. Debtors
              And
Ajakumar Upadhyay and Anr.                                        .. Respondents


Dr. Birendra Saraf, Sr. Advocate, with Mr. I.J. Nankani, Mr. H.S. Khokhawala
and Mr. Vaibhav Charalwar, i/by Nankani & Associates, for the Applicant-
Judgment Creditor.

Mr. Shardul Singh, with Ms. Saloni Shah, i/by PSK Legal, for the Respondents-
Judgment Debtors.


                                                                  CORAM : A. K. MENON, J.

                                                                  DATE         : 1ST SEPTEMBER 2021.
P.C. :

1. Dr. Saraf on behalf of the applicant-judgment creditor states that

despite an order of disclosure, disclosures made thus far are inaccurate and

902-IAL-14042-2021-Corrected Order Pursuant to Speaking to Minutes Order dt. 21-09-2021.doc Dixit incomplete with the order. According to Mr. Singh, appearing on behalf of the

respondents-judgment debtors, compliance made thus far is to the best of his

knowledge and based on instructions complete.

2. Faced with this, Dr. Saraf states that he seeks further relief in terms of

prayer clause (h) of the IA(L)/14042/2021, which pertains to amounts that

are owing from four other entities; three of whom appear to be connected

with the respondents-judgment debtors and the 4 th entity is said to be the

organizing committee of the Government of Goa, which is also said to owe

certain monies to the respondent no.2. Prima facie, it appears that monies are

owing under an Event Management Services Agreement are between the

Government of Goa and respondent no.2. The request today is that notice be

issued to these entities as garnishees.

3. It is also pointed out by Dr. Saraf that in an additional affidavit filed on

behalf of respondent-judgment debtor no.1 and 2, both dated 13 th August

2021, the deponent-Ajaykumar Upadhyay has stated that the judgment-

debtors are believed to have been holding shares in one "Percept Limited". In a

second affidavit of the same deponent, which is filed in his capacity as

director of respondent-judgment debtor no.2, also dated 13 th August 2021, it

is stated that respondent-judgment debtor no.2 also holds shares in "P9

Integrated Private Limited" and another company "Tiger Sports Marketing

Private Limited". All these shares are said to have been destroyed in the fire.

902-IAL-14042-2021-Corrected Order Pursuant to Speaking to Minutes Order dt. 21-09-2021.doc Dixit Applications for issuance of duplicate shares have been made in December,

2020. All these shares are said to have been destroyed in a fire, but the

duplicate shares are yet to be issued by these three entities. These shares are

now sought to be attached; however, for want of the share certificates, further

progress has been hindered. In the circumstances, Dr. Saraf seeks directions

against the aforesaid three companies, viz. "Percept Limited", "P9 Integrated

Private Limited" and "Tiger Sports Marketing Private Limited" for issuance of

duplicate share certificates and upon issuance, to deposit the same in this

court. The applicant-judgment creditor has today submitted particulars of the

registered offices of these three companies and names of their Auditors based

on instructions.

4. In these circumstances, as far as the shares of the aforesaid three

companies are concerned, it will be also necessary to issue notice to these

companies, in which respondent-judgment debtor nos.1 and 2 are holding

shares so as to ensure compliance. In addition, copy of the notice shall be sent

to the Company Secretaries, who are believed to be acting as such in respect

of each of these companies as per the particulars provided by the applicant-

judgment creditor.

5. It is also pointed out that the following companies owe amounts listed

below to the judgment-debtor no.2 :-

902-IAL-14042-2021-Corrected Order Pursuant to Speaking to Minutes Order dt. 21-09-2021.doc Dixit Sr. Amount Due Name of the Company No. (In Rs.) 1 Percept Talent Management Pvt. Ltd. 84,81,786=00 2 Percept Ltd. 1,21,40,812=00 3 Percept Live Pvt. Ltd. 28,60,738=00 4 FA Head Ceremonies, Goa. 62,48,621=00

6. In view of the above, I pass the following order :-

(i) Issue notice to the garnishees viz. (a) Percept Talent

Management Pvt. Ltd.; (b) Percept Limited; (c) Percept

Live Pvt. Ltd.; and (d) FA Head Ceremonies, Goa. Notice

shall be returnable on 21st September 2021, directing

them to deposit the amounts owing to the judgment-

debtor no.2, as shown against their names in paragraph 5

above, with the Prothonotary and Senior Master within

one week of service of notice.

(ii) In addition, issue notice to Mr. Satyajit Mishra, Company

Secretary of Percept Ltd.; Ms. Heena Madan, Company

Secretary of P9 Integrated Pvt. Ltd; and Ms. Ritika Gupta,

Company Secretary of Tiger Sports Marketing Pvt. Ltd.,

returnable on 21st September 2021.

(iii) All the aforesaid noticees are directed to comply with the

following before 21st September 2021 :-

902-IAL-14042-2021-Corrected Order Pursuant to Speaking to Minutes Order dt. 21-09-2021.doc Dixit

(a) Furnish all information regarding the shareholding of respondents-judgment debtors in the aforesaid three companies mentioned in paragraph 6(ii) above and whether application(s) for issuance of duplicate shares has been made.

(b) If duplicate share certificates are already issued, disclose the dates on which they are issued and to whom they are handed over;

(c) If duplicate share certificates are not issued, the same shall be issued within a period of two weeks from the date of receipt of authenticated copy of this order from the Advocates for the applicant-judgment creditor.

                                           (d)       Upon issuance of duplicate share certificates,
                                                     the     same         shall    be    deposited         with      the

Prothonotary and Senior Master within the aforesaid period of two weeks under advise to the applicant-judgment creditor's Advocates.

(iv) Affidavit-in-reply, if any, to the IA to be filed on or before

13th September 2021.

                                   (v)     List the IA on 21st September 2021.




                                                                                                                 (A. K. MENON, J.)




        Digitally signed

SNEHA                               902-IAL-14042-2021-Corrected Order Pursuant to Speaking to Minutes Order dt. 21-09-2021.doc
        by SNEHA
        ABHAY DIXIT
ABHAY   Date:

                           Dixit
        2021.09.22
DIXIT   17:52:30
        +0530