JUDGMENT

RANGANATHAN, J.:—Leave to appeal is granted. Both counsel have been heard and we proceed to dispose of the appeal itself by this order.

2. The appellant, Suresh Jindal, is an Indian film producer with several films to his credit. The respondents, three Italian companies and a foreign film producer acting on behalf of these companies, are claimed to have entered into an agreement with the appellant for the production and exhibition of a television serial based on an Italian novel. According to the appellant, the respondents were unable. to make any headway in their project and they were not even able to obtain the permission of the Government of India for shooting the film in India which was a prerequisite before they could start their project. He claims that the respondents therefore got into touch with him on, 30th April, 1989. There were certain negotiations between the parties and the purport of an agreement said. to have been arrived at in the course of these negotiations was set down in a letter dated 2nd May, 1989 written by the fourth respondent to the appellant. According to the appellant, there was a concluded agreement between the parties under which the appellant