JUDGMENT

B.N. Agrawal, J.—I have perused the lucid judgment prepared by my learned Brother Shah, J., for whom I have all due regard, but in spite of best efforts, I am not able to persuade myself to agree with him. In order to appreciate the controversy, it would be necessary to enumerate the facts hereunder in somewhat more detail.

2. M/s. Ashok Transport Agency-respondent No. 1 (hereinafter referred to as the plaintiff ) instituted a suit bearing Money Suit No. 491 of 1986 against M/s. Orissa Mining Corporation (Alloys) Ltd.-respondent No. 2 (hereinafter referred to as the defendant ) for realisation of a sum of Rs. 3,90,210/- with interest thereon. In the said suit, on 14th October, 1987, written statement was filed on behalf of the defendant contesting claim of the plaintiff. During pendency of the suit, Government of India in the Ministry of Law & Justice by its order dated 30th August, 1991 permitted merger of the defendant with the Orissa Mining Corporation Ltd., (hereinafter referred to as "the Corporation ) of which it was subsidiary and after merger the same became Charge Chrome Division of the Corporation. Thereupon, Government of Orissa promulgated Orissa Mining Corpora