2011 (12) TMI 684

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....l Narichania & Mr. Abhishek Tiwari, 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.....

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.... (i) The Defendant No. 1 shall appoint M/s. KPMG or ENY or PWC as Valuer to value the 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 sub....

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....n out for attachment of the properties of the Defendant No.1 since the Defendant No.1 has defaulted in making payments due to 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.  T....