Dipti Mukesh Zaveri v. Bombay Stock Exchange
Case brief
What is this about?
Bombay HC OOCJ interim application (IA 8246/2025 in Suit 97/2025, Milind N. Jadhav J., 21.01.2026) on return of withheld shares, dividends and accruals between co-defendants: Defendant No.5/applicant Dipti Mukesh Zaveri (in Australia, represented by constituted POA Mr. Mukesh Zaveri) and Defendant No.6 Monalisa Kirtikumar Vora holding assets in trust; staged payment of 50% forthwith against indemnity/Affidavit/undertaking and balance 50% within 48 hours of withdrawal of Caveat as agreed between parties; 48-hour transfer windows tied to handover of indemnities; verification/inspection of registered Power of Attorney (registered 2025) on 29.01.2026; confirmation of order deferred to enable appearance of Defendant No.6's advocate Ms. Kavita A. Shah; Bombay Stock Exchange among suit defendants; no costs or lump-sum quantum awarded.
What did the court decide?
Interim Application allowed in principle, subject to confirmation of the order on the next date: (i) Defendant No.6 to pay 50% of the entire amount withheld by her to Defendant No.5 forthwith upon appropriate indemnity/Affidavit/declaration/undertaking by Defendant No.5/her constituted Power of Attorney; (ii) Defendant No.5/her Constituted Power of Attorney to withdraw the Caveat, whereupon the balance 50% tranche of shares/dividends/accruals to be transferred by Defendant No.6 to the Constituted Power of Attorney of Defendant No.5 within 48 hours; (iii) both indemnities and Affidavits to be handed over to Defendant No.6 before transfer; (iv) inspection of the original Power of Attorney by Defendant No.6's advocate on 29.01.2026; (v) order to be confirmed after hearing Ms. Shah; liberty to apply; matter stood over to 30.01.2026 ('First on Board').