Sourav Ganguly moves Bombay High Court for enforcing an arbitral award of over Rs. 35 crores against former managing company

President of the Board of Control for Cricket in India (BCCI), Sourav Ganguly, has approached the Bombay High Court for enforcement of an award by an arbitral tribunal awarding him over Rs. 35 crores payable by his former management companies - Percept Talent Management Ltd. and Percept D Mark (India) Ltd. (Sourav Ganguly v. Percept Talent Management Ltd & Anr.).Ganguly moved the Court with an execution petition and through an interim plea sought for disclosure of the assets of the companies and an order of injunction restraining the respondent companies from transacting on the properties belonging to them till pendency of the petition..The companies through their counsel advocate Shardul Singh made a statement before Justice AK Menon that the company will disclose the assets by July 20, 2021.He also stated that, except for Rs. 15,000 from each of the respondent company (required for payment of auditor's fees and statutory fees), a status quo will be maintained against the other assets in the meantime. .The arbitration between the parties arose out of a "Player Representation Agreement" through which the respondent companies were to act as as the exclusive manager for Ganguly.After disputes arose between the parties, the agreement was terminated and aggrieved by such purported illegal termination, Ganguly had invoked the arbitration clause in the agreement..The arbitration led to an arbitral award through which the respondent companies were directed to pay Ganguly a sum of Rs 14,49,91,000 together with interest at the rate of 12% per annum till the date of realisation of the amount. .In the absence of any stay on the implementation and execution of the award, Ganguly moved an application in the Calcutta High Court for execution of the arbitral award. During the pendency of this execution application, the respondent companies admittedly paid Rs. 2,07,25,109. .The assets disclosed by the companies were not within the jurisdiction of the Calcutta High Court and hence the execution application filed there was withdrawn and a fresh execution application was filed before the Bombay High Court for realisation of the balance portion of the total compensation..In his application, Ganguly raised concerns that the directors of the respondent companies have systematically with time siphoned away the funds from their accounts to other companies.Hence, he sought a status quo and disclosure which the companies agreed to. .The matter has been posted for hearing on July 20, 2021..Senior Advocates Samrat Sen and Dr Birendra Saraf with Advocates Paritosh Sinha, IJ Nankani, HS Khokhawala, Amitava Mitra, Shrayashee Saha and Jishnujit Roy instructed by Nankani & Associates represented Ganguly.Singh along with Advocates Parag Khandhar and Saloni Shah from DSK Legal represented the respondent companies. .[Read order]