1990 (11) TMI 302

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..... . Suresh, J. - If one reads the agreeement dated February 9, 1987, together with the agreement dated February 6, 1987, it becomes clear that the claim of the petitioners is not just a simple claim without any demur on the part of the company. In my view, both the agreements have to be read together and it was a matter of bargain between the two parties when the present owners took over the company .....

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..... with substantial assets, and to prove their bona fides, they have already deposited the amount in court. Mr. Thakkar has referred to two cases, viz., Bharat Vegetable Products, In re [1952] 22 Comp. Cas. 62 (Cal) and Newfinds (India) v. Vorion Chemicals and Distilleries Ltd. [1976] 46 Comp. Cas. 87 (Mad), and I am inclined to hold that the dispute raised is on a substantial ground and the court .....

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