Inevitably, the charge against the family management was that the entire operation had been pre-planned.Shodhan got involved in the case when he served notices on all Ambica directors asking them to subscribe to Arbuda's shares, and charged them with negligence and breach of trust if they failed to do so.
Two separate strategems were deployed to achieve this objective: one was by Ambica getting rid of its shareholdings in Arbuda on the plea that the parent company needed to reduce its share capital, and the other was by issuing fresh shares in Arbuda.
The company, with an equity capital of Rs 5.5 crore and reserves of around Rs 13.5 crore, was valued by the family at Rs 15 crore.
And since Jaykrishna wanted the whole cake, he had to transfer Rs 5 crore to each of his two brothers.
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