Premier Textile Processors v. Shree Naman Developers Private Limited

906-CONP-39-2025.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION CONTEMPT PETITION NO. 39 OF 2025 IN ARBITRATION PETITION 339 OF 2024 Premiere Textile Processors

...Petitioner

Versus

Shree Naman Developers Private Limited

...Respondent

Digitally signed by SHRADDHA KAMLESH TALEKAR Date:

2025.11.26 20:36:08 +0530 SHRADDHA KAMLESH TALEKAR Mr. Gaurav Joshi, Senior Advocate a/w. Mr. Shrey Fatterpecker, Mr. Ameet Mehta, Mr. Aditya Bhatt, Mr. Nirav Marjadi, Mr. Sujith Suresh, Ms. Srushti Mehta, Ms. Rebha Dogra, Mr. Kushal Harnesha and Ms. Torsa De i/b Solicis Lex, for Petitioner. Mr. Simil Purohit, Senior Advocate a/w. Akshay Doctor, Counsel, Mr. Sahil Harjani and Ms. Shubhi Dotiya i/b Desai and Diwanji, for Respondent.

CORAM

: SOMASEKHAR SUNDARESAN, J.

Date : November 26, 2025 ORDER :

1.

Learned Senior Advocate for the alleged contemnor has instructions only to submit that a sum of Rs. 75 crores would be deposited in a fixed deposit with a lien being marked in favour of the Prothonotary and Senior Master of this Court to abide by the outcome of the arbitral proceedings no later than November 28, 2025. He seeks a further grace period of a day, and requests that this deadline be November 26 2025 Shraddha

906-CONP-39-2025.doc extendable until December 1, 2025. He submits that it will take him another sixty days to provide a bank guarantee of Rs. 150 crores based on which he would expect to withdraw the deposit of Rs. 75 crores, i.e., he would provide Rs. 150 crores only sixty days from now. 2.

Considering the background of the matter, it would be appropriate to issue notice as to why appropriate action for contempt should not be considered. However, such notice would be issued on the next date. On that date, whether the deposit as committed to above, has made no later than December 1, 2025 before 12:00 noon will be examined. Evidence thereof shall be provided to advocates on record for the Petitioner and to the Registry. To accommodate Mr. Purohit's personal convenience, stand over to December 5, 2025. 3.

The Directors of the alleged contemnor, Mr Jayesh Arvind Shah, Mr. Alpesh Gandhi and Ms. Priyadarshi Jugalkishore Mehta are expected to remain present on December 5, 2025. 4.

All actions required to be taken pursuant to this order, shall be taken upon receipt of a downloaded copy as available on this Court's website.

[ SOMASEKHAR SUNDARESAN, J.] November 26 2025 Shraddha