Kotak Mahindra Investments Ltd. v. Rjaesh Ramanlal Shah

pvr 1 501-UA-1-19-cinex68-19

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION INTERIM APPLICATION NO.1 OF 2019 IN COMMERCIAL EXECUTION APPLICATION NO.68 OF 2017 IN ARBITRATION AWARD DATED 17th November 2019 Kotak Mahindra Investments Ltd.

..Applicant In the matter between Kotak Mahindra Investments Ltd.

...Applicant

Versus

Mr.Rajesh Shah ..Respondent ----- Mr.Nikhil Rajani i/b. V.Deshpande & Co., for the Applicant. ---- CORAM :

G.S. KULKARNI, J.

DATE :

17th DECEMBER, 2019 P.C.:

Not on board taken on board on a praecipe as moved on behalf of the applicant/award creditor.

2.

The applicant has an award against the award debtor for an amount of Rs.3,48,80,077.92. Today'

s application is for an ex-parte relief as prayed for in prayer clause (d) of the Interim Application namely the respondent/award debtor be directed not to deal with the securities/shares, the details of which are set out at "Exhibit A" page 8 of the interim application. His submission is that if these securities dealt by the respondent/award debtor, it is likely that the arbitral award would stand defeated.

3.

Having heard learned Counsel for the petitioner/plaintiff and perusal of the award, it is in the interest of justice that at this stage an ad-interim relief be granted to the applicant in terms of prayer clause (d) in respect of the following accounts of the award debtor:-

pvr 2 501-UA-1-19-cinex68-19 DETAILS OF DEMAT AND BANK ACCOUTNS BELONGING TO THE RESPONDENT Sr.

No.

Particulars Nature of Account 1.

Demat Account No. 1203230000546750 with Edelweiss Broking Limited, with connected trading Account De-mat and Trading Account 2.

Demat Account No. 1201090005988683 with Motilal Oswal Financial Services Limited, with connected trading account.

De-mat and Trading Account 3.

Demat Account No. 1201090005309784 with Motilal Oswal Financial Services Limited, with connected trading account.

De-mat and Trading Account 4.

Demat Account No. 1203450000753269 with Ashika Stock Broking Limited, with connected trading account.

De-mat and Trading Account 5.

Demat Account No. 1202890010259007 with Sushil Finance, with connected trading account. De-mat and Trading Account 6.

Demat Account No. IN 302269 12659255 with IIFL Securities Limited, with connected trading account De-mat and Trading Account 7.

Demat Account No. IN300360 20230150 with Standard Chartered Bank, with connected trading account De-mat and Trading Account 8.

Demat Account No. IN300100 10230150 with Standard Chartered Bank, with connected trading account De-mat and Trading Account 9.

Demat Account No. IN302470 11301028 with Karvy Stock Broking Limited, with connected trading account De-mat and Trading Account Ordered accordingly.

4.

Issue notice to the respondent returnable on 14 January 2020. In addition to the Court notice, learned Advocate for the applicant is permitted to serve the respondent/award debtor by private service by all permissible modes including hand delivery and place on record affidavit of service before the returnable date.

5.

Stand over to 14 January 2020.

Parties to act on the authenticated copy of this order. [G.S. KULKARNI, J.]