MUMBAI: Justice B P Colabawalla of Bombay high court on Friday while recording non payment and non compliance in execution proceedings filed by Saurav Chandidas Ganguly president of Board for control of cricket in India (BCCI) against Percept group, issued show cause notice for contempt to directors of some of the group companies.
These Percept entities made adjustment accounting entries of Rs. 62 lakh after certain orders of the Court which the court prima facie found was to keep Ganguly ‘at bay’.
Finding that the companies were in breach of orders requiring proper disclosures in this regard, the directors have now been issued show cause notices in contempt and the matter is listed on 11th February 2022.
The High Court had directed Percept Limited, Percept Talent Management and Percept D Mark to disclose a Business Transfer Agreement of 2008 which had been executed between these companies, under which Percept Limited had taken over the business Percept Talent and Percept D Mark.
On Friday, the Percept group informed the High Court that this Agreement was not available as it may have burnt down in the fire which took place in the office of Percept.
Senior counsel Birendra Saraf and advocate Ishwar Nankani , appearing for Ganguly contended that there is reluctance on part of the Percept Group in disclosing this Agreement.
Justice Colabawalla directed the companies to disclose the statutory authorities with whom these Agreements may have been filed by the Percept Group so that the authorities may be directed to assist the High Court and provide a copy of this Agreement.
Ganguly’s lawyers had also filed an application for summoning and cross – examining Mr. Harindra Pal Singh, a major stakeholder of Percept Group. The High Court has listed this application as well on the next date.
The High Court in its earlier order had imposed costs on Percept Talent Management and Percept D Mark for not disclosing facts properly. These costs had not been paid. Justice Colabawalla, as a last opportunity, has given Percept 2 weeks to deposit the Cost amount in Court.
Ganguly had an arbitration award passed in his favour in 2018 in which Percept Talent Management Private Limited and Percept D Mark were directed to pay an amount of Rs. 36 Crores to him. Ganguly initiated execution proceedings before the High Court for recovery of these amounts.
