Karnataka High Court

Morgan Securities And Credits Private ... vs B P L Limited on 28 October, 2025

     IN THE HIGH COURT OF KARNATAKA AT BENGALURU

        DATED THIS THE 28TH DAY OF OCTOBER, 2025

                         PRESENT

        THE HON'BLE MRS. JUSTICE ANU SIVARAMAN

                           AND

       THE HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL

        CIVIL CONTEMPT PETITION NO.908 OF 2023


BETWEEN:

MORGAN SECURITIES AND
CREDITS PRIVATE LIMITED
A COMPANY INCORPORATED UNDER
THE COMPANIES ACT, 1956
HAVING OFFICE AT
53, FRIENDS COLONY (EAST)
NEW DELHI
REPRESENTED BY ITS AUTHORIZED SIGNATORY
MR. M.K. JAIN
                                              ...COMPLAINANT

(BY SRI. ABHISHEK PURI, ADVOCATE)

AND:

1.    BPL LIMITED
      DYNAMIC HOUSE No.64
      CHURCH GATE
      BENGALURU-560 001
      REPRESENTED BY ITS MANAGING DIRECTOR
      MR. AJIT GOPAL NAMBIAR

2.    MR. AJIT GOPAL NAMBIAR
      CHAIRMAN AND MANAGING DIRECTOR
      OF BPL LIMITED
      ALSO CHAIRMAN AND DIRECTOR
      OF BPL MEDICAL TECHNOLOGIES PVT. LTD.
      10/3, CUNNINGHAM CRESCENT ROAD
 -

                            2




     CUNNINGHAM ROAD CROSS
     BENGALURU-560 001

     ALSO AT: DYNAMIC HOUSE No.64
     CHURCH GATE
     BENGALURU-560 001

3.   MS. ANJU CHANDRASEKHAR
     DIRECTOR OF BPL LIMITED
     ALSO DIRECTOR OF BPL MEDICAL
     TECHNOLOGIES PVT. LTD.
     408, 2ND A CROSS, 8TH MAIN
     3RD BLOCK, KORAMANGALA
     BENGALURU SOUTH
     BENGALURU-560 034
     ALSO AT: DYNAMIC HOUSE No.64
     CHURCH GATE
     BENGALURU-560 001

4.   BPL MEDICAL TECHNOLOGIES PVT. LTD.
     11TH KM, ARAKERE
     BANNERGHATTA ROAD
     BENGALURU-560 076
     REPRESENTED BY ITS DIRECTOR
     SUNIL KHURANA

5.   SUNIL KHURANA
     MANAGING DIRECTOR
     BPL MEDICAL TECHNOLOGIES PVT. LTD.
     11TH KM, ARAKERE
     BANNERGHATTA ROAD
     BENGALURU-560 076
     ALSO AT: 509,
     A4 THUNGABHADRA N.G.V.
     KORAMANGALA
     BENGALURU-560 047

6.   AJAY JINDAL
     CFO
     OF BPL MEDICAL TECHNOLOGIES PVT. LTD.
     11TH KM, ARAKERE
     BANNERGHATTA ROAD
     BENGALURU-560 076
 -

                            3




7.   RIDHI CHOUDHARY
     NOMINEE DIRECTOR
     BPL MEDICAL TECHNOLOGIES PVT. LTD.
     11TH KM, ARAKERE
     BANNERGHATTA ROAD
     BENGALURU-560 076
     ALSO AT: 4203, LODHA PRIMERO
     N.M. JOSHI MARG
     MAHALAKSHMI, MUMBAI-400 013

8.   SHASHANK
     NOMINEE DIRECTOR
     BPL MEDICAL TECHNOLOGIES PVT. LTD.
     1701, B WING, ELISIUM LODHA
     NEW CUFFE PARADE, WADALA
     MUMBAI-400 037
                                                   ACCUSED

(BY SRI. PERIKAL K. ARJUN, ADVOCATE FOR A1 TO A3;
    SRI. DHYAN CHINNAPPA, SENIOR ADVOCATE FOR
    SRI. AJAY J. NANDALIKE, ADVOCATE FOR A4 TO A6;
    SRI. MOAMMED SHAMEER, ADVOCATE FOR A7 & A8)

     THIS CCC IS FILED UNDER SECTIONS 12(b), 10 AND 12 OF
THE CONTEMPT OF COURTS ACT, 1971, BY THE COMPLAINANT,
WHERE IN HE PRAYS TO INITIATE CONTEMPT OF COURTS
PROCEEDINGS AGAINST THE RESPONDENTS AND PUNISH THEM
UNDER THE PROVISIONS OF THE CONTEMPT OF COURTS ACT,
1971 FOR DISOBEYING THE ORDER DATED 20.02.2020 PASSED
BY THE CITY CIVIL COURT IN EX. PETITION No.4621/2018 AND
ETC.

      THIS CCC HAVING BEEN HEARD AND RESERVED FOR
JUDGMENT    ON   16.10.2025  AND COMING   ON   FOR
PRONOUNCEMENT OF JUDGMENT THIS DAY, ANU SIVARAMAN
J., PRONOUNCED THE FOLLOWING:

CORAM:   HON'BLE MRS. JUSTICE ANU SIVARAMAN
         and
         HON'BLE MR. JUSTICE VIJAYKUMAR A. PATIL
 -

                                       4




                          CAV JUDGMENT

(PER: HON'BLE MRS. JUSTICE ANU SIVARAMAN)

This Contempt of Court Case is filed alleging non-

compliance of the directions issued by the XXXV Additional

City Civil and Sessions Judge, Bengaluru (CCH-36)

('Executing Court' for short) in Execution Petition

No.4621/2018 dated 20.02.2020. There is a further prayer

that accused No.1 to 3 be directed to purge the contempt by

depositing the dividends received from accused No.4 in

willful disregard of the order dated 20.02.2020.

2. We have heard Shri. Abhishek Puri, learned

counsel appearing for the complainant, Shri. Dhyan

Chinnappa, learned senior counsel as instructed by Shri.

Ajay J Nandalike, learned Advocate appearing for accused

persons No.4 to 6, Shri. Perikal K. Arjun learned counsel

appearing for accused persons No.1 to 3 and Shri.

Mohammed Shameer, learned counsel appearing for accused

persons No. 7 and 8.

3. The prayer in I.A.No.3 was (a) to attach

Rs.2,10,50,000/- shares of M/s. BPL Medical Technologies

Private Limited held by M/s. BPL Limited and to prohibit the

Judgment Debtor - M/s. BPL Limited from transferring the

shares or receiving any dividends thereon. (b) direct the

original title deeds deposited with sole arbitrator in respect

of the properties detailed in paragraph No.3 of the present

application be deposited with this Court and (c) restrain the

judgment debtor/accused No.1 from selling, alienating,

encumbering any of their movable and immovable assets

located in Bengaluru.

4. The Executing Court allowed I.A.No.3 and had

answered the prayers in favour of the decree holder -

Morgan Securities and Credits Private Limited in the

affirmative.

5. It is submitted by the learned counsel appearing

for the complainant that the directions have not been

complied with and that dividend amounting to

Rs.10,31,45,000/- for the financial year 2021-2022 and

Rs.8,42,00,000/- for the financial year 2022-2023 have

been paid by accused No.4 to accused No.1 in violation of

the directions issued by the Executing Court in Execution

Petition No.4621/2018 vide order dated 20.02.2020.

6. Affidavits have been filed on behalf of respondent

No.6 and respondents No.4 and 5, dated 05.08.2025. It is

submitted by the learned senior counsel appearing for

respondents/accused No.4 to 6 that the allegation of the

complainant is, despite the order, two interim dividends

totaling Rs.10,31,00,000/- were declared and paid by

respondent No.4 to respondent No.1 in the financial year

2021-2022 and a sum of Rs.8,42,00,000/- for the financial

year 2022-2023.

7. It is further submitted that an amount of

Rs.27,88,00,000/- has been deposited by accused No.1

before the Executing Court pursuant to an order dated

27.06.2025 in I.A.No.19. It is further stated at paragraph

No.7 of the Memo seeking Closure of Proceedings, which

reads as follows:-

-

"7. Pursuant to the above order, on 08.09.2025 the Complainant filed an application in the SLP seeking

(i) vacating of the interim order of stay granted in the SLP; or in the alternative (ii) deposit of Rs.96 Crores by the Accused No. 1 before the Hon'ble Supreme Court. A copy of the application dated 08.09.2025 (without annexures) filed by the Complainant in the SLP is produced herewith as Annexure R-4. It is pertinent to note that as per the said application, Rs.27.88 Crores out of the said Rs.96 Crores sought is with regard to the dividends received by the Accused No.1 from the Accused No.4, which is also the relief in the present complaint and IA No.19."

8. As such, it can be concluded that as on date, the Complainant has agitated a claim for Rs.27.88 Crores before 3 different fora being this Hon'ble Court in the present complaint, before the Ld. Executing Court in I.A.No.19 and even before the Hon'ble Supreme Court by way of application dated 08.09.2025 in the SLP."

8. It is further submitted that a sum of

Rs.96,00,00,000/- has been deposited by accused No.1,

without prejudice to its contentions on merits, before the

Registry of the Apex Court. The copies of demand drafts are

also placed on record. It is submitted that since the

disputed amounts are already in deposit, there is no further

cause to continue these proceedings.

9. The learned counsel appearing for the

complainant, however, submits that, the deposit of the

amounts as stated by the accused does not purge the

contempt and that the entire amounts, drawn in violation of

the order have to be re-deposited. It is therefore contended