LAWRENCE GRAHAM Vs. KALEIDOSCOPE ENTERTAINMENT PVT LTD

JUDGEMENT

(1.) THE aforesaid execution petition has been filed by the Decree Holder above-named (hereinafter referred to as "the petitioner") praying, inter alia, for the execution of the judgment and decree dated 07.12.2009 passed by the High Court of Justice, Queens Bench Division in Claim No.HQ09X 02705 for GBP 75,631.95 along with pendente lite and future interest @ 8% per annum; and to order the Judgment Debtor (hereinafter referred to as "the respondent company") to disclose on oath all their assets both movable and immovable, and upon such disclosure being made to order immediate attachment and sale of the said assets. In the alternative to the prayer above, to direct the sale of the respondent Company as a going concern and appropriate the sale proceeds towards the repayment of the decretal amount. Further, to appoint a Receiver for preserving the assets of the respondent Company to secure the decretal amount.

(2.) THE facts leading to the filing of the present petition are that on 25.06.2009, the petitioner filed a suit before the High Court of Justice, Queens Bench Division, being Claim No.HQ09X 02705, copy whereof is placed on record. The said suit along with the documents was served upon the respondent Company on 11.07.2009 as evidenced from the receipt of summons. The respondent Company acknowledged receipt of the same through its Company Secretary and the claim was admitted in the form itself, which is dated 31 st July, 2009, to the extent of GBP 30,000 by stating: "I admit the amount of Further, in Column 11 titled "Offer of pounds sterling 30,000." Payment", the respondent Company stated that it "can pay monthly instalments of �5,000" as "the Company has incurred huge losses and proposed IPO was shelved because of economic downturn so we do not have adequate funds." A copy of the said acknowledgment of service containing the offer to pay the sum of Pounds Sterling 30,000 in monthly instalments of Pounds Sterling 5,000 is placed on record.

(3.) ON 07.12.2009, the High Court of Justice after recording that no one had appeared on behalf of the respondent Company decreed the suit in terms of the prayer of the petitioner.