SBS HOLDINGS, INC v ANANT KUMAR CHOUDARY & 3 Ors

Case Significance

In SBS Holdings, Inc v Anant Kumar Choudary and others (A2S Logistics Pte Ltd and another, non-parties) [2024] SGHCR 11, the General Division of the High Court determined HC/SUM 2238/2024, an application for security for costs in Originating Application No 435 of 2023. The application was brought by the second non-party, Ms Shalini Choudary, against the claimant, SBS Holdings Inc, a company registered in Japan. The security was sought in respect of a trial in which SBS is claimant and Ms Choudary, her husband Mr Anant Kumar Choudary and A2S Logistics Pte Ltd are the defendants.

The issue to be determined at trial was whether shares of A2S Logistics Pte Ltd held by Ms Choudary, who is also the sole registered shareholder of the company, are in fact beneficially owned by Mr Choudary. The trial arose from enforcement proceedings taken out by SBS to enforce a judgment against Mr Choudary and other defendants, in which SBS sought the sale and seizure of Ms Choudary's shares on the basis that they were beneficially owned by Mr Choudary. AR Perry Peh heard the matter on 13 September and 2 October 2024 and issued the grounds of decision on 11 October 2024, noting that SBS, as a company registered in Japan, was ordinarily resident out of the jurisdiction. WongPartnership LLP acted for the claimant and Allen & Gledhill LLP for the non-party.