2011 (12) TMI 684

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....wari, i/b. AZB & Partners, for Plaintiffs. Mr. Rohit Kapadia, Senior Counsel, a/w. Mr. Gaurav Joshi, i/b. RMG Law, for Defendant Nos. 1, 5 & 6 in N.M.No. 3520/2011. Mr. A. Bookwalla, Senior Counsel, a/w. Mr. Gaurav Joshi, i/b. RMG Law, for Defendant Nos. 1, 5 and 6 in N.M. No. 3527/11. Mr. V.R. Dhond, Senior Counsel, i/b. N. Desai & Ass., for Defendant Nos. 2 to 4. S.J. KATHAWALLA, J 23RD DECEM....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... cloud computing business of Defendant No.1. (ii) The Valuer shall submit their report before this Court in a sealed cover on 31st January 2012. (iii) The Defendant No.1 shall file an Affidavit setting out the detailed particulars of the payments made to various parties by itself or its subsidiaries from the sale proceeds received from the MNS business as set out in paragraphs 12 and 13 of the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the bond holders on maturity. It is submitted that the Defendant nos. 5 and 6 who are holding 60 to 65% of shareholding in the Defendant No.1 Company shall in the garb of dividends siphon away substantial amounts from the coffers of the Defendant No.1 Company. The Learned Advocate appearing for the Plaintiffs therefore submits that the Defendant No.1 be restrained from considering the issue pertai....