The decide opined that the plaintiff, Koladiya, made out a prima facie case for the grant of such an injunction as he would undergo irreparable loss and prejudice if third-party rights had been created within the shares being claimed by him.
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“Defendant No.1 (Grover) is due to this fact restrained from transferring or creating any third-party rights within the Swimsuit Shares, or any rights accrued or which can accrue to him as a consequence thereof, till the disposal of the go well with,” the court docket in its order.
“It’s made clear that the observations and findings on this judgment have been recorded just for disposal of this software and will not be meant to prejudice the events at trial,” clarified the court docket.
Koladiya and Shashvat Nakrani based BharatPe in July 2017, though the agency was not integrated until March 2018. Grover had joined the corporate in June 2018 and resigned in March 2022.
Final January, Koladiya had approached the excessive court docket claiming that he had offered to Grover his 1,600 shares whose complete worth was round Rs 88 lakh however no cash was paid to him.
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He had mentioned the shares have now turn out to be 16,000 and the title needn’t move to Grover and that he was asking for his items again which he had given. The court docket had then issued a summons to Grover whereas noting his counsel’s submission that he wouldn’t create any third-party rights within the 16,110 shares in query underneath additional orders of the court docket.
Koladiya, in his interim software, had sought an interim injunction restraining Grover from creating any third-party rights within the shares that are the subject material of the go well with.
The appliance was opposed by Grover’s counsel.
Koladiya, who ran the fintech agency’s know-how and product divisions, had stepped down in 2022.
