Shopper's Stop Limited - Securities and Exchange Board of India

The Resort ,a division of K. Raheja Corp. Pvt. Ltd. have issued notices through their
Advocates dated 3/2/2004 to Entertainment Concepts India and Mr. Francis Faria for
deficiency in rendering of service by Entertainment Concepts India to The Resort on the
night of 31/12/2003 in respect of the Entertainment Program Shows organized by them.
The company is claiming a sum of Rs. 10 Lakhs as damages on account of loss of
reputation / goodwill, loss of future guests, mental loss, frustration etc from them. The
matter is pending.
Capstan Trading Co Pvt. Ltd. and Ferani Hotels Ltd and Apna Sahakari Bank Ltd.(
Matulya Centre Premises)
The company Capstan Trading Pvt. Ltd., a promoter company , was owner of premises
being Unit No. 1 on the 1 st Floor of a building known as Matulya Centre ‘C’ located at
Lower Parel, Mumbai in accordance with the Ownnership Agreement dated 30 th
November, 1996 executed between the company and Ferani Hotels Ltd. the builders of
the said Property. The said Agreement has been duly registered.
The said Premises were sold by the company to Apna Sahakari Bank Ltd. vide Sale deed
dated 30.12.2002 executed between the company and the said Bank
A Cooperative Society of the owners of various units in the said Building (Matulya Centre
Wing ‘A’,‘B’ and ‘C’ ) was formed in May, 2002 wherein the company’s name was not
entered as a member of the society and no share certificate has been issued to the
company. Instead the company received a letter dated 26.3.2003 from the society stating
that the said premises were unsold and that the society had issued share certificate in
respect of the said premises in the name of the builders viz. Ferani Hotels Ltd. since as
per the contention of the builders, the company Capstan Trading Pvt. Ltd. was yet to
comply with certain obligations under the Ownership Agreement dated 30.11.1996.
Pursuant to the company’s application to the Registrar of Cooperative Society for
admission of the company as a member, the Registrar has forwarded to the Society, the
company’s application for membership with a direction to consider the same as per the
Byelaws. The society has rejected the said application of the company for membership on
the ground that in Suit No 2118 of 2003 filed in the Bombay City Civil Court by Apna
Sahakari Bank Ltd against the Society, it has been held that the the said Bank has
purchased the said property from the company which is not the legal owner.
However the company was never made a party to the above Suit. The company intends to
file a suit in an appropriate court for membership of the society and issue of share
certificate in the company’s name.
Against the Promoters
A) Pending Arbitration Proceedings
Arbtrn
Suit No.
/ Petn.
No.
Arbitratio
n
proceedi
ngs
Before the Ld. Arbitrator Mr. Justice Pendse(Retd)
Unique Estate Development Co. Ltd. vs. Chandru Raheja,
Dat
e
April
15,
200
2
Claimant
/ Plaintiff
/
Petitione
r
Unique
Estate
Develop
ment Co.
Ltd. & 3
others
Respon
dent /
Defenda
nts
Chandru
L.Raheja
(in his
capacity
as the
Karta of
Chandru
L.
Raheja
HUF) ,
Ivory
Propertie
s and
Hotels
Pvt. Ltd.,
Casa
Maria
Propertie
Name of
the Court/
Arbtrn.
Panel
Learned
Sole
Arbitrator
Mr. Justice
Pendse
(Retd.)
248
Nature of case
Proceedings filed by
members of GL Raheja
Group for dissolution of
K Raheja
Development
Corporation (‘KRDC’) , a
partnership firm
Several interim
applications have been
filed by the GL Raheja
Group, CL Raheja
Group and the Menda
Group in these
proceedings for reliefs
pending the hearing and
final disposal of the
matter.
Amt under
Consideratio
n
Amount would
be determined
only upon
accounts of
KRDC being
taken
Status
Matter is at trial
stage.
Mr. Sandeep
Raheja (son of
Gopal Raheja)
has filed his
affidavit evidence
on behalf of the
GL Raheja
Group. Mr.
Sandeep Raheja
has been cross
examined by the
CL Raheja Group
and the Menda
Group.