ANAND PERSHAD JAISWAL Vs. SHAKUN JAISWAL

JUDGEMENT

(1.) LADLI Pershad Jaiswal was a man of means. He was a successful businessman. He was a colourful man. He was married to one Ms.Surjeet through whom two sons named Jagatjit and Karanjit were born. He lived with another woman Ms.Kamla and in respect of which relationship there is an issue whether the two were married; but he sired a son named Anand i.e. the appellant through Kamla. He then had a long term relationship with a lady called Mrs.Chaddha. The exact nature of which relationship is not known. Kamla and Mrs.Chaddha have died. Surjeet survives. There is a dispute between Surjeet, Jagatjit, Karamjit and Anand on the issue whether LADLI Pershad Jaiswal died intestate or whether he executed Will(s) in which he appointed Ms.Gita Bawa, born to Mrs.Chaddha by a previous marriage as the executor. Parties do not dispute that LADLI Pershad Jaiswal died on August 11, 2005; domiciled in India.

(2.) OF the various properties acquired by Ladli Pershad Jaiswal, his main assets were his interest in a company called Jagatjit Industries Ltd. of which nearly 90% shares are held within the family or companies, trusts etc. controlled by the family. Inter-alia a company incorporated in British Virgin Islands called Higro Trading Ltd. through two Jersey incorporated nominee companies held the shares. These two companies had executed declarations of trust confirming that each company holds the respective shares upon bare trust for Ladli Pershad Jaiswal. Higro Trading Ltd. holds global depository receipts which entitle the holder to 25.1 million shares in Jagatjit Industries Ltd. The estate of Ladli Pershad Jaiswal also includes deposits with a bank at Jersey and also in Monaco. One Robert Clifford was Ladli Pershad Jaiswals trustee to manage his affairs abroad.

(3.) ALONG with the suit, vide IA No.14087/2009 interim orders were prayed for and by an interim order dated November 04, 2009, the defendant No.2 bank was directed to maintain the records of the transactions whereby the account of late Sh.Ladli Pershad Jaiswal was debited and credited to the account of Shakun Jaiswal between June 14, 2004 till November 10, 2004.