INNOVATIVE FILM ACADEMY PRIVATE LIMITED vs ENDEMOL INDIA PRIVATE LIMITED

Judgment text excerpt

CARBPL-22714-2024.docx IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION IN ITS COMMERCIAL DIVISION COMMERCIAL ARBITRATION PETITION (L) NO. 22714 OF 2024 Digitally signed by Saravana Prasad ...Petitioner SHRADDHA SHRADDHA KAMLESH TALEKAR Versus KAMLESH TALEKAR Date: 2025.07.03 Endemol India Private Limited & Anr. ...Respondents 13:18:00 +0530 WITH COMMERCIAL ARBITRATION PETITION (L) NO. 22746 OF 2024 Innovative Film Academy Pvt. Ltd. ...Petitioner Versus Endemol India Private Limited & Anr. ...Respondents Mr. Siddhesh Bhole a/w. Mr. Yakshay Chheda (through VC) a/w. Mr. Apoorva Kulkarni i/b. SSB Legal and Advisory, for Petitioner in both Petitions. Mr. Sharan Jagtiani, Senior Advocate a/w. Ms. Surabhi S. Agrawal, Mr. Rashmin Khandekar, Mr. Anand Mohan, Ms. Sneha Nanandkar, Ms. Ruddhi Bhalekar, Ms. Pallavi Thakur i/b. ANM Global, for Respondent No.1 in both Petitions. CORAM: SOMASEKHAR SUNDARESAN, J. Reserved on : January 31, 2025 Pronounced on : July 3, 2025 JUDGEMENT : Context and Factual Background: 1. These Petitions are filed under Section 37(2)(b) of the Arbitration and Conciliation Act, 1996 (“Arbitration Act”) challenging an order dated July 10, Page 1 of 16 July 3, 2025 Shraddha CARBPL-22714-2024.docx 2024, passed by a Learned Arbitral Tribunal under Section 17 of the Arbitration Act, directing a deposit of Rs. ~10.40 crores in a fixed deposit in a nationalised bank and requiring expansive disclosures in the course of conduct of the arbitral proceedings. 2. Innovative Film Academy Private Limited (“ Innovative”) is a one- person company formed by Mr. Saravana Prasad (“ Prasad”). Innovative is the Petitioner in Commercial Arbitration Petition (L) No. 22746 of 2024 while Prasad is the Petitioner in Commercial Arbitration Petition (L) No