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

G) Economic / criminal / civil offences by the Southern Undivided Entities, companies
and firms promoted by the Southern Undivided Entities and past cases in which
penalties were imposed by the concerned authorities
Crim. Case No.CRM 872/99
Metropolitan Magistrate court at Calcutta
Mr. Dhanveer Singhi Vs. Raj. A. Menda & Vimal Menda
Mr. Dhanveer Singhi filed criminal case No.C/104/99 u/s 420/120B IPC in the metropolitan
Magistrate court at Calcutta alleging that there was no disclosure about the litigation
pending before the High Court at the time of negotiation by the representative of R&M
Trust. The same came to be dismissed u/s 203 Cr.P.C. on 1.3.1999 holding Calcutta
Court has no jurisdiction. Aggrieved by this order Mr. Dhanveer Singhi has filed CRM no.
872/99 in the High Court of Calcutta. The High Court on 9.3.2004 passed order directing
the Trial Court to enquire the issue of Jurisdiction based on evidences.
The Copy of the Order is currently awaited.
Consumer Case No.53/2001
State Cons. Redressal Disp. Commsn
R.Residency ‘ Maple’ Block Assn. Vs. K. RAHEJA DEVELOPMENT CORPORATION
& Ors
Raheja Residency ‘Maple’ ‘C’ Block Association filed a complaint before the State
Consumer Dispute Redressal Commission, Bangalore, for recovery of Rs.5,11,467/- along
with 24% interest towards contingency fund collected from the customers. Since there is
no stipulation in the agreements for such interest, suitable objections were filed by K.
Raheja Development Corporation on 23.2.2001.
The Case is posted for hearing on 25.10.2004 for final arguments
H) Litigation Pending- Labor, Employee and Trade Unions
I) Banks and Financial Institution Defaults
Asiatic Properties Ltd.& SBI Home Ltd./ State Bank Of India
One of the promoter group companies, Asiatic Properties Ltd. has defaulted in repayment
of loan to SBI Home Ltd.(the said debt has been assigned by SBI Home Ltd to the State
Bank of India ) and presently outstanding of Rs. 14530442. However Asiatic Properties
Ltd has earmarked one of the office units developed by it for the discharge of the said
outstanding loan .This is not likely to result in a material adverse effect on our business
taken as a whole.
Asiatic Properties Ltd.& Housing Development Finance Corporation Ltd.(Loan)
One of the promoter group companies, Asiatic Properties Ltd. has defaulted in repayment
of loan to Housing Development Finance Corporation Ltd and presently outstanding of
Rs. 31,13,74,547 plus Interest thereon amounting to Rs. 83,22,611/-. However Housing
Development Finance Corporation Ltd is holding security of a plot of land belonging to
Asiatic Properties Ltd . In view of the Litigation mentioned in this RHP Asiatic Properties
Ltd is unable to sell the said Security .
Asiatic Properties Ltd.& Housing Development Finance Corporation Ltd.(ICD)
One of the promoter group companies, Asiatic Properties Ltd. has defaulted in repayment
of loan to Housing Development Finance Corporation Ltd and the amount presently
outstanding is Rs. 7,25,00,000/- plus accrued interest of Rs. 793,525 upto 16.08.2004.
J) Non Payment of Statutory Dues and/or dues towards instrument holders such as
debenture holders, fixed deposits
There are none disclosed.
K) Disciplinary action taken by SEBI / Stock Exchanges against the Southern
Undivided Entities / business ventures of the Southern Undivided Entities
Asiatic Properties Ltd.
A Show Cause Notice bearing Ref No. DCS/DL/SM/50883/51 dated 11 th February, 2004
was issued by the Stock Exchange, Mumbai for delisting of the shares of the company
from the Bombay Stock Exchange. The company has replied to the said notice on
16/3/2004 stating that the company had already filed an application dated 21 st September
1998 to BSE to delist the 50,000 Equity Shares of the company which was followed by
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