Sourav Chandidas Ganguly vs Percept Talent Management Ltd. ...
2021 Latest Caselaw 13624 Bom

                                       IN THE HIGH COURT OF JUDICATURE AT BOMBAY

                                           ORDINARY ORIGINAL CIVIL JURISDICTION

                                         INTERIM APPLICATION (L) NO. 14042 OF 2021

                                         INTERIM APPLICATION (L) NO. 17456 OF 2021

                                                GARNISHEE (L) NO. 20243 OF 2021

                                         INTERIM APPLICATION (L) NO. 19336 OF 2021

                                                                  IN

                              COMMERCIAL EXECUTION APPLICATION (L) NO 13320 OF 2021



                        Sourav Chandidas Ganguly                                    ...        Applicant
                               vs.
                        Percept Talent Management Ltd & Anr.                        ...    Respondents


                        Dr. Birendra Saraf, Senior Advocate, a/w. Mr. Ishwar Nankani, Mr. H. S.
                        Khokhawala and Mr. Vaibhav Charalwar i/by Nankani & Associates, for the
                        Applicant.
                        Ms. Mohinee Chougule              i/b. Mr. Suresh Kumar for the Income Tax
                        department.
                        Mr. Shardul Singh a/w. Mr. Parag Khandhar and Ms. Saloni Shah, i/by DSK
                        Legal, for Judgment debtors.
                        Mr. Manoj Kumar Patra, Chief Financial Officer of          Percept Limited -
                        Garnishee no. 2 present.
                        Mr. Manuj Agarwal, Director of Percept Live Private Limited - Garnishee no.
                        3 present.


                                                                   CORAM : A. K. MENON, J.

Digitally signed by DATED : 22nd SEPTEMBER, 2021.

           RAJESHWARI
RAJESHWARI RAMESH
RAMESH     PILLAI
PILLAI     Date:
           2021.09.23
           14:17:48
           +0530

10-IAL-14042-2021-COMEXL-13320-2021.odt rrpillai P.C. :

1. Yesterday 21st September, 2021 when this matter was called the court

directed an email to be sent to [email protected] whose email

address is provided in the Company Master Data of Tiger Sports Marketing

Pvt. Ltd.("Tiger Sports"). This was required since Mr. Singh on behalf of the

judgment debtor had submitted that one Harindra Pal Singh had ceased to be

a director of Tiger Sports since the last eight years.

2. Today on behalf of the applicant, Dr. Saraf has submitted a certificate

issued by Chartered Accountant who has set out names of the directors as

available on the portal of the Ministry of Corporate affairs which discloses

that Harindra Pal Singh has been director since 2003. He continues to be a

director today and his digital signature is also valid till December, 2022.

Likewise in respect of other directors Mr. Shailendra Singh also continues to

be director as also Brandon Cecil Desouza to whom the email was addressed.

Mr. Desouza has after receipt of email issued by the applicants Advocate,

responded via email this morning to the Advocates for the applicant

contending that Tiger Sports will be sending the duplicate share certificate

shortly. At present, due to pandemic, the "CS" (presumably Company

Secretary) is working from home. Some of these persons are said to be also

directors of at least one of the judgment debtors.

10-IAL-14042-2021-COMEXL-13320-2021.odt rrpillai

3. The statement made by Mr. Shardul Singh that Mr. Harindra Pal Singh

was not a director is said to be made on instructions of Mr. Harindra Pal

Singh. The list of directors produced today reveals an attempt, prima facie, to

mislead the Court. In the circumstances the Applicants have been forced to

come to court repeatedly on the basis of incorrect and misappropriate

instructions and therefore make improper submissions in Court. The officers

of the garnishee's have also to be called to elicit further particulars. On behalf

of respondent no. 2. Mr. Shardul Singh submits today that in view of the

communication received from the company Tiger Sports confirming that

share certificates will be issued shortly, he will ensure that within the period

of three weeks from today 1,83,600 shares of Tiger Sports held by judgment

debtor no. 2 will be deposited in the Court under advise to the Advocates for

the applicant.

4. Learned counsel for Percept Limited has tendered additional affidavit

dated 21st September,2021. In that affidavit it is stated that the Garnishee

company now owes to the judgment debtors only a sum of Rs. 54,51,568/-.

Mr. Patra, the deponent of the affidavit is present in Court and was asked

when this amount will be paid, Mr. Patra states that the amount cannot be

paid in lumpsum due to financial constraints but would consider the

payment in instalments. He was then requested to produce bank statements

of the company to ensure availability of funds and at his request the matter

was kept back. On second call he has tendered some statements of account.

10-IAL-14042-2021-COMEXL-13320-2021.odt rrpillai One of these accounts said to be held in HDFC Bank, Kamala Mills, Parel

branch bearing no. 02400330001398 reflects a credit Rs. 1,76,80,674.48.

Learned Advocate for the garnishee at this stage has requested that he be

permitted to file additional affidavit.

5. On behalf of Garnishee Percept Live Private Limited it is stated that it

holds eight bank accounts of which six are in New India Co-operative Bank

Limited one of them show debit balance of Rs. 278,782,802.26, The others

contain a balance of about Rs. 1 lakh. Two other accounts in private sector

bank also do not show any substantial deposits.

6. The Income tax department is represented today. Learned counsel for

the department states that she has been able to procure the acknowledgment

issued in ITR-V for the period 2008-09 upto 2020-21. As regards

computation of income and balance sheet and profit and loss account she

seeks time to obtain instructions.

In view thereof for the present I pass the following order :

(i) Share certificates of Tiger Sports Marketing Pvt. Ltd. shall be deposited

on or before 12h October, 2021. List on 13 th October, 2021 as far as

compliance is concerned.

(ii) HDFC Bank is directed not to permit withdrawal of a sum of Rs.

54,51,568/- which is disclosed in paragraph 2 of the affidavit of Shri Manoj

Patra out of sums payable to the Judgment Debtor no.2.

10-IAL-14042-2021-COMEXL-13320-2021.odt rrpillai

(iii) The HDFC bank shall not appropriate sum of Rs. 54,51,568/- against

any outstanding of the account holder and shall deposit the same in a

separate fixed deposit in the very branch where the account is held. That

amount shall not be disbursed without leave of the court by the bank. HDFC

Bank shall confirm compliance to the Prothonotary and Senior Master of the

Court. HDFC Bank to act on an authenticated copy of this order.

(iv) Additional affidavit on behalf of Garnishee no. 2 - Percept Limited to

be filed within two weeks.

(v) The Garnishee no.3 - is directed to disclose its assets on oath by filing

an affidavit of its director Mr. Manuj Agarwal setting out in detail all assets

and receivables of the company within two weeks from today.

(vi) In the meantime considering the conduct of the judgment debtors in

not disclosing accurate information as available to it, costs as incurred at

today's hearing shall be born by judgment debtor equally.

(vii) List on 13th October, 2021.

(A. K. MENON, J.)

10-IAL-14042-2021-COMEXL-13320-2021.odt rrpillai