SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
Listen Audio Icon Pause Audio Icon
judgment-img

2021 Supreme(Cal) 546

DEBANGSU BASAK
IL And FS Financial Services Ltd. – Appellant
Versus
Aditya Khaitan – Respondent


Advocates Appeared:
For the Petitioner: Mr. Utpal Bose, Mr. Rishad Medora, Ms. Ramya Hariharan, Mr. Soumava Mukherjee.
For the Respondents: Mr. S.N. Mookherjee, Mr. Asmita Rakhecha, Mr. Samik Chakraborty, Mr. Joy Saha, Mr. Padam Khaitan, Mr. Srinjoy Bhattacharya.

JUDGMENT :

(Debangsu Basak, J.) :-

1. In a suit for recovery of money, perpetual injunction and other reliefs, the plaintiff has sought attachment before judgement and injunction in this application for interim reliefs.

2. Learned Senior advocate appearing for the plaintiff has submitted that, the defendant Nos. 3 to 9 are companies forming the part of the Williamson Magor group. The defendant Nos.1 and 2 have control over the defendant Nos. 3 to 9. The Williamson Magor group had entered into negotiations with the plaintiff for obtaining long-term loan facilities of up to Rs. 175 crores to be extended by the plaintiff through the defendant No.4 in the shape of term loans and other facilities. The parties had extended a loan agreement dated March 29, 2017. The parties had further negotiations in February 2018. The plaintiff had agreed to invest up to Rs. 100 crores in compulsorily convertible preference shares of the defendant No. 3 as a method of providing financial accommodation to the Williamson Magor group. The parties had entered into a Share Subscription and Shareholders Agreement referred to as the Facility Agreement dated March 27, 2018. The defendant Nos. 1, 2, 3, 4, 5, 7 an

      Click Here to Read the rest of this document
      1
      2
      3
      4
      5
      6
      7
      8
      9
      10
      11
      SupremeToday Portrait Ad
      supreme today icon
      logo-black

      An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

      Please visit our Training & Support
      Center or Contact Us for assistance

      qr

      Scan Me!

      India’s Legal research and Law Firm App, Download now!

      For Daily Legal Updates, Join us on :

      whatsapp-icon telegram-icon
      whatsapp-icon Back to top