NATIONAL SPOT EXCHANGE LTD. Vs. MOONS TECHNOLOGIES LTD.

JUDGEMENT

(1.) On 28th February 2020, by consent of parties, an order was passed in terms of the minutes signed between the parties and their Advocates to the extent it concerned expenses under 10 heads. Mr. Cama has opposed grant of any relief in respect of four heads of expenses viz.

(2.) Vide my order dated 6th January 2020, I have dealt with Directors' sitting fees. A detailed exercise was undertaken by the parties, whereby the attendance registers recording names of the directors, who attended the meetings of the Board of Directors, Audit Committee meetings, Nomination and Remuneration Committee meetings and meetings of the Legal and Recovery Committee were inspected and for reasons recorded in that order, Directors' sitting fees were allowed to be paid. In view thereof, payments for the amounts claimed towards Directors' sitting fees, forming subject matter of the present application, may be paid after following the same process as provided for in my order dated 6th January 2020.

(3.) As far as the legal expenses and office rent are concerned, Mr. Cama opposes the claim and reiterates the plaintiffs' objections as recorded in paragraph 12, 25 and 26 respectively of the order dated 22 nd July 2019 and paragraph 6 of the order dated 17th October 2019 (per B.P. Colabawalla, J.). I have considered Mr. Cama's submissions. Legal expenses are set out in some detail in Exhibit-S to this interim application. Legal expenses were permitted by this court in the aforesaid order dated 22 nd July 2019. Payment of rent was also permitted vide order dated 22 nd July 2019 (see para 28) and the order dated 17th October 2019 (see para 14). Since these aspects have already been dealt with and expenses permitted to be paid, I am not inclined to take a different view and therefore these amounts shall also be paid. Mr. Cama meanwhile points out that there is a sum of Rs.3.41 lakhs, which forms part of various bills supporting the statement at Exhibit-S, and that amount in any case is not justifiable under the heading "Court Expenses" and as such, this amount is not payable. Mr. Kadam on behalf of the applicant-original defendant no.2 states that as far as the amount of Rs.3.41 lakhs is concerned, he reserves his right to press for relief in respect of that head of expenses.