Judgment

MATHEW, J. - This appeal is from an order dated 30-6-1973 passed by the Government of India dismissing an application filed by the appellant on 5-5-1972 under Section 23 (4) of the Monopolies and Restrictive Trade Practices Act 1969 (hereinafter referred to as the Act ) for acquiring 100 per cent share capital of Shahjahanpur Sugar Private Ltd.

2. The appellant is a public limited company and is a subsidiary of United Breweries Ltd. and other companies interconnected with it. The appellant s undertaking consists of a sugar factory and a distillery for manufacture of liquor at Rosa. Shahjahanpur and another distillery at Asansol. The appellant s sugar factory at Rosa had been facing difficulties for some years on account of inadequate supply of sugarcane and to ensure regular and adequate supply of sugarcane, the appellant proposed to float a company with a share capital of Rs. 50 lakhs for the purpose of taking over the sugar unit of the appellant and for working it as an undertaking of the company to be formed. The proposal was that the appellant would be entitled to an allotment of 100 per cent shares in the new company and a further sum of Rs. 15,77,093/ - as considerat