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1993 (1) TMI 217 - SUPREME COURTWhether decisions taken at the extraordinary general meeting dated July 24, 1992, and the offer made by the appellant-company in pursuance thereof-are prejudicial to the interest of the shareholders including the financial institutions ? Held that:- Grievance made by Sri Govinda Mukhoty, learned counsel for Sri Ashok Singh complained that this court should not pass orders even before his client had an opportunity of filing a counter to S.L.P. No. 148 of 1993 unable to see any substance in the said grievance. Firstly, the order under appeal was an ex parte order made without hearing the appellant-company. Secondly, we are not taking into account any other facts than those on record in the appeal (arising from S.L.P. No. 148 of 1993). We have also heard Sri Mukhoty at length who placed all the aspects before us. At the same time, we cannot but observe that Mr. Mukhoty's client chose to rush to the court even without approaching the financial institutions beforehand. It is not as if he first approached them and tried to convince them of the inadvisability of responding to the said offer. The presumption is that every person (including a public financial institution) knows his interest best and until the contrary is established, whether at interlocutory or final stage, orders of restraint may not be advisable.
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