Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 1972 (12) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1972 (12) TMI 76 - SUPREME COURTWhether the appellant is entitled to compensation for the service lines? Held that:- It seems beyond the pale of controversy that the Umpire did not award compensation to the appellant in respect of the service lines for the sole reason that they were laid at the cost of the consumers. Some market- value the service-lines must have had, even if it be no more than the scrap value. But to the way of thinking which the Umpire adopted, that consideration had no relevance. The service-lines were paid for by the consumers and that for the Umpire, was the end of the matter. That, patently, was the wrong end. The date of sale being 4/5 May, 1959 the consumers' contribution will roughly represent the market value of the service, lines even if, as, required by the first proviso to section 7(1) of the Act as it then stood, due regard is to be had to the nature and condition for the time being of the "works" to the state of repair thereof, to the circumstance that they are in such a position as to be ready for immediate working and to the suitability of the same for the purposes of the undertaking. Accordingly, we direct that the award of the Umpire will stand amended to the extent that the fair market value of the appellant's undertaking shall be ₹ 23,81,670 plus ₹ 2,38,255, plus ₹ 5,26,962/60 that is to say ₹ 31,46,887/60.
|