Phoenix ARC Private Limited vs Future Brands Limited

Judgment text excerpt

1-ial-20363-2025-coms-124-2025.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY varsha ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL SUIT NO. 124 OF 2025 WITH INTERIM APPLICATION (L) NO. 20363 OF 2025 1. Phoenix ARC Private Limited } A private company incorporated } under the Companies Act, 1956 and } registered as an Asset Reconstruction } Company with the Reserve Bank of India} and having its registered office at } 5 Floor, Dani Corporate Park 158, } CST Road, Kalina, } Digitally signed by VARSHA Santacruz East, Mumbai – 400 098. } …Applicant VARSHA VIJAY VIJAY RAJGURU RAJGURU Date: 2026.04.15 19:06:38 +0530 Versus 1. Future Brands Limited } A public company incorporated } under the Companies Act, 1956 } and having its registered office at } Knowledge House, Shyam Nagar, } Jogeshwari Vikhroli Link Road, } Jogeshwari(E), Mumbai – 400 060. } 2. Future Entertainment Private Limited } A private limited company incorporated } under the Companies Act, 1956 } Page no. 1 of 37 1-ial-20363-2025-coms-124-2025.doc and having its registered office at } 5th Floor, Sobo Central ,28, P.T. Madan } Mohan Malviya Road, } Haji Ali, Tardeo, Mumbai – 400 034. } Respondents Mr. Shyam Kapadia a/w. Mr. Ranjit Shetty a/w. Mr. Rahul Dev a/w. Ms. Monika Vyas i/b. Argus Partners for the Applicant/Plaintiff. Mr. Ashish Kamat, Senior Counsel a/w. Mr. Harsh Moorjani, Ms. Petrushka Dasgupta, Ms. Krishna Baruah and Mr. Altamash Qureshi i/b. Link Legal for Defendants. CORAM : GAURI GODSE J RESERVED ON : 1st DECEMBER 2025 PRONOUNCED ON : 15th APRIL 2026 JUDGMENT: BASIC FACTS: 1. This suit is filed for a mandatory injunction directing defendant no.1, to infuse equity of Rs. 250,00,00,000/- into defendant no. 2 in the manner acceptable to the plaintiff and restraining defendant no.1, from selling, transfe