Cyril Shroff affidavit deadline extended to 31 December as mediation between Amarchand Mumbai-Delhi continues

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.

Cyril’s senior counsel Iqbal Chagla had told the court that the affidavit would show Shardul’s “deep involvement” in their mother’s will.

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.

Comments

chittichitti 12 Dec 2014, 14:19
+2 -4
Is the amarchand managing committee still functioning? How is the firm being run now?
Rambharose Hindu Hotel... 13 Dec 2014, 06:31
+8 -4
The Mumbai office is run Rambharose, with CSS's contacts and VCS's coterie of "lawyers" as always. I believe the Delhi office actually has a semblance of talent who can perform independent work without the MP's direct supervision. But for how long can such a scenario withstand is hard to say.
Bombay Client 13 Dec 2014, 13:13
+9 -14
LMAO! Obviously you have no idea what Mumbai office is or does! Cyril, SHB, Viswanathan, Leena, Ash, Reeba, Mathkar, Yash, Nive, VP, Janaki, Lall, Sekhri, Nisha, Prashanth, Indraneel, Shishir etc etc are all STAR lawyers of India. Most leaders in their respective fields. None has this kind of a solid bench strength.

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 !
ABC 13 Dec 2014, 20:09
+14 -2
if you are a real client then I am the
Jedi Master....
Minting away 15 Dec 2014, 04:39
+2 -2
You do have a point. Thanks and good to know. Today's article on Mint highlights this aspect. Link below:

http://www.livemint.com/Companies/994I1ZzpYnMfgv2ydgFhbO/Corporate-law-firms-benefit-from-rise-in-value-of-MAs-shar.html
chittichitti 12 Dec 2014, 14:48
+5 -0
Y u no pooblish mi komment?
kianganz 12 Dec 2014, 15:12
+3 -5
It's published no?
musseli 13 Dec 2014, 11:18
+0 -1
I am told the MC is dissolved. Partition deed being drafted. Kian, rumour or some stuff in this?
kianganz 13 Dec 2014, 11:46
+0 -0
I'd think the MC is still technically in existence though in the circumstances I'd guess it's probably not having any meetings right now.

Not sure about separation deed, could be happening behind the scenes perhaps...
HK lawyer 12 Dec 2014, 18:21
+8 -3
Harish is in London. Sri krishna in full day arbitrations and Nimesh K also in travels. Harish is back jan 7. This is no mediation, just the pretence of one. Shardul was in Mumbai this week for DLF matter. These mediations are just a fig leaf for the camps to now proceed with a break up. Shardul had instructed PC to read the Will in open court, thereby effectively defaming his brother.
Guest 13 Dec 2014, 12:27
+5 -2
[quote name="HK lawyer"]Harish is in London. Sri krishna in full day arbitrations and Nimesh K also in travels. Harish is back jan 7. This is no mediation, just the pretence of one. Shardul was in Mumbai this week for DLF matter. These mediations are just a fig leaf for the camps to now proceed with a break up. Shardul had instructed PC to read the Will in open court, thereby effectively defaming his brother.[/quote]

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.
flying stone girl 13 Dec 2014, 13:28
+0 -1
But why wd they agree to a timepass mediation if they didn't want to
hubba 13 Dec 2014, 15:08
+0 -0
How so many here speak like an expert or an insider!

...Are any of you either advisor or agony aunt to either of the brothers?
Guest 13 Dec 2014, 16:38
+4 -0
[quote name="hubba"]How so many here speak like an expert or an insider!

...Are any of you either advisor or agony aunt to either of the brothers?[/quote]

By that logic, only the Shroffs can comment here.
ABC 13 Dec 2014, 20:10
+0 -0
they probably are... who knows!

Jedi Master
hubba 15 Dec 2014, 09:29
+0 -0
because you think they are the only ones who know?

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?