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

Ex Pet No. 2344/2000 (ORIGINAL SUIT. 6117)
City Civil Court, Bangalore
Arjun M.Menda ( K. Raheja development Corporation) vs. Harilakshmi Talkies & Ors
After obtaining a decree dated 13.09.2000 against Harilaksmi Theatre, in the suit no.
6117/92, the Execution Petition No.2344/2000 has been filed on 7.12.2000, requesting the
court to execute a Sale Deed in favour of the Plaintiff. The balance sale price of Rs.37
lakhs was also deposited in the Court. Since Notices issued to certain Defendants were
returned unserved, substitute service by way of paper publication was taken with the order
of the court and the same was published in the Times of India on 21.1.2002. Draft Sale
Deed has been submitted to the Court. The Court has scrutinized it. Now further order to
execute the Sale Deed is awaited.
The Case stands posted on 28.8.2004 for further order touching the execution of Sale
Deed.
Defamation Suit No.1048/02
The City Civil Court, Bangalore
K. RAHEJA DEVELOPMENT CORPORATION Vs. Residence Apex Body & Others
Apex Body, Associations and its certain office bearers in Raheja Residency, Bangalore
Project have started interfering with K. Raheja Development Corporation’s right in dealing
with car parking spaces in the project. Since the said acts of the aforesaid bodies and
other office bearers amount to defaming the K. Raheja Development Corporation and
slandering the property rights, defamation suit has been filed on 13.2.2002 claiming Rs.1
Crore as damages. Interim order preventing the above parties from publishing/circulating
against K. Raheja Development Corporation has also been secured.
The Case stands posted on 20.09.2004 for arguments on interim matter.
Original Suit No.3823/87
City Civil Court, Bangalore
K. Raheja Development Corporation Vs. Papanna & Others
Mr. Papanna & Others failed to establish marketable title to the property. Hence a suit
has been filed by K. Raheja Development Corporation for recovery of Rs.75,875/- and
interest thereon at 18% per annum in the matter of agreement of sale, which was entered
into between the Plaintiffs and the Defendants on 15.10.1985 in respect of the site
Nos.367, 368, 379 and 370, situated in Survey No.47/11, HA Sanitary Board Area,
Bangalore.
The Case is posted to 14.09.2004 – for marking of documents and leading evidence.
Civil Appeal No.12928/96 (SLP.18879/96)
the Supreme Court of India
K. RAHEJA DEVELOPMENT CORPORATION Vs. Official Liquidator (KSFC Auction)
– Intl. Coach Buil. Prop
K. Raheja Development Corporation participated in the KSFC auction sale proceedings in
respect of the International Coach Builders Property and paid as below:
Rs.50000/- - Paid EMD on 12.9.90
Rs.20,75,000/- - 25% down payment on Rs.85 lakhs (any reason this was omitted)
Rs.7,87,123/- interest @ 20% P.A. on Rs.85 lakhs
towards part of bid amount. In the meanwhile, International Coach Builders Limited, was
ordered to be wound up. The Official Liquidator has started objecting the sale. The
company court granted permission to the SFC to proceed with the sale. The Officials
Liquidator filed appeal before the Supreme Court challenging the company’s court order.
K. Raheja Development Corporation also filed Special Leave Petition no.18879/96, which
was converted as Civil Appeal No.12928/96. The Supreme Court by its order dated
5.3.2003 directed that Financial Corporation is at liberty from moving the learned company
Judge for appropriate directions for realization of the sale proceeds of the assets. The
aforesaid appeal was accordingly disposed off with no order as to any costs.
K. Raheja Development Corporation has sent its written communication to KSFC seeking
refund of the amounts paid with interest. However, the KSFC has expressed its
willingness to refund without any interest. Therefore, K. Raheja Development Corporation
is waiting the steps to be taken by KSFC before the company Court, so that K. Raheja
Development Corporation can also urge refund with interest in the Court.
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