Judgement

DAS CJI.: These are appeals by special leave filed by Crompton Parkinson (Works) Private Ltd. (hereinafter referred to as the company) against that part of the award made in References (IT) Nos. 109 and 147 of 1956 by the Industrial Tribunal, Bombay on 8-1-l957 which concerns the demand of its workmen for bonus for the company s financial year 1954-55. That award was published in the Bombay Government Gazette of 17-1-l957 in Part IL at pages 351-364.

2. The material facts and circumstances leading up to the said award, as they appear from the evidence placed on record before the Tribunal, may shortly be stated as follows: The company was incorporated in India in the year 1987. The registered office of the company is at Bombay. The authorised capital of the company is Rs. 75 lacs divided into 75,000 ordinary shares of the value of Rs. 100 each. Out of the authorised capital, shares of the value of Rs.60 lacs have been issued, subscribed and fully paid. At its inception the company was 100 per cent, subsidiary of the well-known British company named Crompton Parkinson Ltd. (hereinafter called the Parent company). In 1937 the company commenced its business which was and is to