Judge: Jon R. Takasugi, Case: BC696133, Date: 2025-02-24 Tentative Ruling

Case Number: BC696133    Hearing Date: February 24, 2025    Dept: 17

Superior Court of California

County of Los Angeles

DEPARTMENT 17

TENTATIVE RULING

Prashant’s and Mita’s motion for an order re: payment of $11 million after default is GRANTED.

On 7/3/2018, Plaintiffs Govind Vaghashia (Govind) as an individual and on behalf of Graphic Research, Inc. dba Gtek/Bycan Systems filed a second amended complaint (SAC) against Prashant Vaghashia (Prashant), Graphic Research, Inc. dba Gtek/Bycan Systems (GRI), alleging: (1) involuntary dissolution; (2) breach of fiduciary duty; (3) accounting; and (4) violation of Corporations Code sections 1601 and 1602

On 1/14/2025, Prashant and Mita moved for an order re: payment of $11 million after default.

Discussion

            Prasahant and Mita seek an order enforcing the compliance of Govind Vaghashia, Sonal G. Vaghashia, American Financial Services, The Vaghashia Family Limited Partnership, Atmaswaroop Investments LLC, Sherman Oaks First Plaza, LLC, Five Stars Hospitality, LLC, Bellflower First Plaza, LLC, Oak First Plaza, LLC (collectively, Govind Litigating Parties) and for an order for payment of $11,000,000, following the default of the Govind Litigating Parties, along with accrued interest in the amount of $123,725.70 through February 10, 2025, and a going forward daily rate of $3,013.70 for each day past February 10, 2025.

This motion is nearly identical to the relief previously ordered by this Court with respect to the prior defaults of the $5.5 million that was not paid on December 30, 2022, and the $2.5 million that was not paid on June 1, 2023, and the $10 million due September of 29, 2023. In all cases, the Govind Parties, including the Govind Litigating Parties, defaulted on their obligations to pay. Default letters were issued by counsel for Prashant and Mita. Then, through either ex parte applications or motion practice, the Court entered Orders requiring the Govind Litigating Parties to comply.

Now, Prashant and Mita through this motion seek the next and last payment, the $11 million that was due on December 31, 2024. The payment was not received on December 31, 2024, and despite transmitting a Notice of Default to counsel for the Govind Litigating Parties on January 2, 2025, the payment has still not been received. (Armenta Decl., Exh. E.)

The days difference between December 31, 2024, and February 10, 2025, is 37 days (Armenta Decl ¶ 11). The amount of daily interest on $11M is $3,013.70. The daily interest on $11,000,000 is $3013.70. The interest for the 41-day period is therefore $123,725.70. (Armenta Decl., Exh. G.)

Based on the foregoing, Prashant and Mita’s motion for an order re: payment of $11 million after default is granted.

It is so ordered.

Dated:  February    , 2025

   Hon. Jon R. Takasugi
   Judge of the Superior Court

Parties who intend to submit on this tentative must send an email to the court at smcdept17@lacourt.org by 4 p.m. the day prior as directed by the instructions provided on the court website at www.lacourt.org.  If a party submits on the tentative, the party’s email must include the case number and must identify the party submitting on the tentative.  If all parties to a motion submit, the court will adopt this tentative as the final order.  If the department does not receive an email indicating the parties are submitting on the tentative and there are no appearances at the hearing, the motion may be placed off calendar.  For more information, please contact the court clerk at (213) 633-0517.