Judgment

SABYASACHI MUKHARJI, J. :- These appeals by special leave relate to the affairs of M/s. Eastern Tea Estate (P) Ltd. It was of two branches namely, the Duttas and the Choudhurys. Due to death and lack of cordiality between the erstwhile partners the two branches first drifted and then parted company as it unfortunately is the fate of so many Indian concerns and there were disputes and litigations in Court.

2. The Civil Appeal No. 1510 of 1987 arises from a judgment and decision of the Division Bench of the High Court of Gauhati dated 4th. June, 1987 . It appears that that a petition .was filed originally by the appellant under Ss. 397 and 398 read with S. 403 of the Companies Act, 1956 (hereinafter called the Act). The company petition came to be disposed of on 4th February, 1977 in accordance with the compromise arrived at between the partes. The said compromise comprised of inter alia, two relevant paragraphs, for the present purpose, which read as follows :

"1. Mrs. Arati Dutta will take over Chandana T. E. and Choudhury group will take over Martycherra T.E. on 25th January, 1976.

2. The Bank liability of the Company in respect to Martycherra T.E. amounting to Rs. 2,20,000/-