Sourav Ganguly Moves Bombay High Court To Enforce Arbitral Award Against Percept

President of the Board of Control for Cricket in India (BCCI) and former Indian cricket team captain, Sourav Ganguly, has approached the Bombay High Court seeking over Rs. 36 crore payable to him pursuant to a 2018-19 Arbitral award against Percept Talent Management and Percept D Mark (India) Limited.Ganguly has alleged that Directors of Percept have systematically "siphoned" funds from the company to other companies in which they are Directors to avoid payment to creditors. It is, therefore, necessary and in the interest of justice that the "Corporate Veil" is lifted off the debtors. The proceedings arose from an agreement called "Player Representation Agreement" signed between the two in October 2003, with a term of 5 years. As per this agreement, Percept Talent Management was to act as Ganguly's sole and exclusive manager and agent in respect of certain defined and commercial rights. However, disputes and differences between the parties led to Percept terminating the agreement by a notice to him in November 2007, following which Ganguly invoked the Arbitration clause. A single bench of Justice AK Menon heard Ganguly's interim application seeking disclosure of the respondents' assets, bank statements and income tax returns under Order XXI, Rule 41 of the Civil Procedure Code, pending the final disposal of the Execution Application. He has also sought directions injuncting the respondents from alienating any of their assets. Following arguments by senior advocate Birendra Saraf instructed by Nankani and Associates for Ganguly, the respondents stated that they would disclose all their assets by July 20, 2021 and would maintain the status quo regarding other assets. On December 9, 2018, the Arbitral Tribunal passed an award of Rs 14.50 crore in Ganguly's favour which came upto Rs. 34 crore with 12% interest amounting to Rs 19.65 crore.He approached the Calcutta High Court in December 2019 for the execution of the award. During the pendency of that application, he was paid over Rs. 2 crore. However, since the respondents' assets were not within Calcutta HC's jurisdiction, Ganguly withdrew his petition and filed a fresh plea before the Bombay High Court in June 2021. According to Ganguly, over Rs. 36 crore is payable to him despite approximately Rs. 2 crores already paid. The petition states that the Calcutta High Court dismissed the respondents' application filed under section 36(2) of the Act for an unconditional stay of implementation, execution and operation of the award on April 7, 2021. [Saurav Chandidas Ganguly vs Percept Talent Management Ltd]

Sourav Ganguly Moves Bombay High Court To Enforce Arbitral Award Against Percept

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Sourav Ganguly Moves Bombay High Court To Enforce Arbitral Award Against Percept

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