The plaintiffs (over 200 individuals) alleged fraud and misappropriation of $47 million by the defendants (Moninder Khudal, his wife Ramampreet Joshi, and sons Sharanbir and Yashbir Khudal).
A Mareva injunction was granted and subsequently amended.
The defendants moved to vary the injunction to release additional funds for legal/accounting fees, vacate the injunction against the sons, and release post-injunction earnings.
The plaintiffs cross-moved to reduce living expenses to zero and amend their Statement of Claim.
The court applied the four-part Credit Valley test for varying a Mareva injunction.
The court denied the defendants' requests for additional funds for legal/accounting expenses, finding they failed to show no other assets were available and did not make full disclosure.
The court also denied vacating the injunction against the sons, noting their lack of candor regarding financial support from family.
The court reduced the defendants' monthly living expenses from $8,000 to $3,000, acknowledging the undisclosed financial support from family.
The plaintiffs' request to amend the Statement of Claim and for substituted service was granted.
Costs were awarded to the plaintiffs.
