The deadline for the affidavit that was due to be filed by Amarchand Mangaldas Mumbai managing partner Cyril Shroff in the Bombay high court dispute with his brother over their late mother’s equity in the firm, has been extended by the court to 31 December 2014, coinciding with the deadline set for the close of mediation talks between the two brothers.
Cyril’s affidavit was due to be filed within three weeks of the ‘black Tuesday’ Bombay high court hearing of 18 November, in the case that was brought by his brother.
It is understood that this would have made the allegation that Shardul exerted undue influence over the mother, whose will disinherited Cyril and his side of the family entirely.
Shardul’s counsel P Chidambaram had read out large parts of the mother’s will and codicil in open court, including allegations of her having been neglected by Cyril and his family.
Mediations are currently ongoing between the two brothers, headed by investment banker & JM Financial founder Nimesh Kampani, senior counsel Harish Salve and Justice BN Srikrishna.
The mediation to date is believed to have been conducted without any physical meetings or direct communication between both the brothers, with the three mediators acting as the brothers’ intermediaries.
On 20 November Legally India reported that an authoritative source with knowledge of Cyril and Mumbai’s position, had said the most likely outcome of mediation would be a split of Amarchand into two firms, in part because previous rounds of mediation between the brothers have already failed. Go-betweens included AZB & Partners managing partner Zia Mody, Aditya Birla Group chairman Kumar Mangalam Birla and HDFC chairman Deepak Parekh.
Legally India published Shardul Shroff’s affidavit and explained both sides’ arguments in the case on 25 November.
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Look at the deals these guys are pulling off in the market. Last couple of weeks only & indicative too is eye popping. All big ticket headliners! This is 'rambharose'then Santa has nothing for you this Christmas. Some I managed to pull out, so what if Kian's does not feature all:
1. Tata Power’s acquisition of Ideal Energy
2. Reliance Industries JV with & Shandong RuYi
3. Infosys’s Murthy & Others Stake Sale
4. Form II Merger Notification on Ranbaxy & Sun merger
5. ING Vysya Bank merger with Kotak Mahindra Bank
6. Himachal Baspa Company acquisition by JSW Energy
7. JSW Steel Bond Issue
8. Warburg’s acquisition of Kalyan Jewellers
Mumbai office of Amarchand in terms of clientele, deals, lawyers are on a different level all together, having used this guys for over 23 years now, can say so and have had never had to look beyond them. Period !
Jedi Master....
www.livemint.com/Companies/994I1ZzpYnMfgv2ydgFhbO/Corporate-law-firms-benefit-from-rise-in-value-of-MAs-shar.html
Not sure about separation deed, could be happening behind the scenes perhaps...
true, true. CSS and SSS may not be great lawyers or administrators but they sure know what they want and mediation is not one of those things. Had mediation being possible they would not have filed suit against one another for sure.
...Are any of you either advisor or agony aunt to either of the brothers?
By that logic, only the Shroffs can comment here.
Jedi Master
and are you seriously going to deny that half the people commenting on this or any other thread with their insights/info are actually just shooting in the dark? and that people who are actually in the know of things are smart enough to not be spilling the beans here in a comments section?
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