Dreams the Mall Commercial Premises Welfare Association

RELIEF SOUGHT

We have made many prayers to the court, in the main petition and subsequent petitions. The court decided that in the interest of speed on 25 April 2018 to appoint a court commissioner to verify the actual situation in the mall, examine the documents provided by the builder and the petitioners and furnish a report on the ground realities.

The court commissioner Adv. Bankar visited the mall on 11 May 2018, examined all the documents received from the petitioners and HDIL and Dreams the Mall and finally submitted a report on 24 July 2018.

In a major success for our efforts, the NCLT court based on the report and arguments from both sides issued the order to appoint Company Secy. Mr.Rahul P Sahasrabuddhe as the Administrator of the Mall (link to Order copy).

Following are the releif measures sought from the courts

1. Interim releif sought in Main petition
2. Final releif sought in Main petition:
3. Prayer of New petitioners : who have shares in their own name
4. Prayer of New petitioners : who DO NOT have shares in their own name

Final releif sought in Main petition:

In the view of above circumstances Petitioners humbly pray for the following final reliefs:

1. That by the Order and Declaration of this Honorable Tribunal that the Respondent No. 2 to 10 is guilty of oppression and mismanagement and remove all Directors from the office of respondent No. 1 and handover management of the company to the petitioners.

2. That appropriate orders, reliefs and directions under Section 213, 241, 242 and 244, passed for

   1. the proper management of the Respondent No. 1 Company, and

   2. for that purpose, appropriate and fit person to be appointed, as this Hon’ble Tribunal may deem fit as Administrator and/or Independent Chairman and/or Independent committee of Management for Managing the Affairs of the Company for such period and on such terms and conditions as this Tribunal May Deem fit and proper.

3. That appropriate orders, be issued to wind up the Respondent no. 1 on just and equitable grounds.

Interim releif sought in Main petition:

In the view of above circumstances Petitioners humbly pray for the following interim reliefs:

1. That pending the hearing and the final disposal of the petition this tribunal be passed an appropriate orders, reliefs and direction under section 213, 241, 242 and 244 passed for

2. the proper management of the respondent number one company

3.  for that purpose, appropriate and fit person to be appointed as this honourable tribunal may deem fit as administrator and/or independent chairman or independent committee of Management for managing the affairs of the company for such period and on such terms and conditions as the tribunal may dream fit tand proper.

4. To restrain the present directors of the company from taking any decision in regard to running of the company without explicit written permission of the forum or the administrator, who shall grant permission only if it is in the interest of the shop owners of the mall.

5.  to direct the administrator take for the books of account and all other books of the respondent company from the present set of directors to ensure that the same or not manipulated in any manner.

6.  to pass an order directing the present director from addressing any letters/giving any concents for the purpose of utilising FSI for making or consenting to any proposal to MCGM or any other statutory authority

7. To order investigation in the affairs of the Company.

[a] To order convening of Annual General Meeting of the Company for the year 2014, 2015  2016 and 2017.

[b] To order appointment 10 Directors representing interest of the Petitioners.

[c] To appoint an Administrator and carry out Special Audit and Investigation into affairs of the Company.

[d] Effect all the transfer of shares more particularly mentioned in 4.23.3 and 4.23.4 above.

[e] To invest all the powers of running of the affairs of the Mall to the administrator, who would be entitled to take all decisions in the interests of the persons running the shops in the mall.

[f] To restrain the present Directors of the company from taking any decisions in regard to the running of the company, without the explicit written permission of this forum or the Administrator, who shall grant the permission, only if it in the interests of the Shop owners of the Mall.

[g] To direct the Administrator to take over all the books of accounts and all the other books of the Respondent company from the present set of directors to ensure that the same are not manipulated in any manner.

[h] To pass an Order restraining the present Directors from addressing any letters/giving any consents for the purposes of utilizing F.S.I. or making or consenting to any proposals to the M.C.G.M.  or to any statutory authority.

[i] Appropriate orders, relief and directions under Section 213, 241, 242 and 244 of Companies Act, 2013, to bring an end to the aforesaid acts of the oppression and mismanagement perpetrated by Respondent No. 2 to 10 and for necessary orders and relief in respect thereto, including as prayed for herein;

Prayer of New petitioners : who already have shares in their own name

1)          In the facts and circumstances aforesaid it is submitted that the Applicants be allowed to join the above Petition as Petitioners /intervene in the aforesaid proceedings and be heard before any Orders are passed. The Applicants crave leave of this Hon’ble Court to file further and additional Application and/or Affidavit containing further grounds and/or facts as and when required if they are allowed to intervene and submit their say in the matter.

2)          The Applicants respectfully pray that :-

a)           That the Applicant herein be allowed to be joined as Party Petitioners /or as intervene in the aforesaid Application/Petition.

b)          That any other just, equitable and consequential reliefs/ orders may kindly be passed in favour of the Applicants herein as this Hon’ble Authority may deem fit and proper.

Prayer of New petitioners : who DO NOT have shares in their own name

 1)          In the facts and circumstances aforesaid it is submitted that the Applicants be allowed to join the above Petition as Petitioners /intervene in the aforesaid proceedings and be heard before any Orders are passed. The Applicants crave leave of this Hon’ble Court to file further and additional Application and/or Affidavit containing further grounds and/or facts as and when required if they are allowed to intervene and submit their say in the matter.

 2)          The Applicants respectfully pray that :-

a)           That the administrator be empowered to transfer the Shares of the Respondent No 1 company in the name of the Interveners.

b)          That the Applicant herein be allowed to be joined as interveners in the aforesaid Application/Petition.

c)           That any other just, equitable and consequential reliefs/ orders may kindly be passed in favour of the Applicants herein as this Hon’ble Authority may deem fit and proper.