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2004 Supreme(Bom) 343

R.M.S.KHANDEPARKAR
European Investment Ltd – Appellant
Versus
Triumph International Finance India Ltd. & others – Respondent


JUDGMENT - KHANDEPARKAR R.M.S., J.:---Heard the learned Advocates for the parties. Perused the records. The grievance of the petitioners relates to the breach of undertaking given by the respondents and violation of the order passed by this Court on 29th January, 2002 in Summary Suit No. 3846 of 2001.

2. The petitioners are an Overseas Corporate Body, registered in Mauritius and having its representative office at New Marine Line, Mumbai and they are in the business of Shares and Securities through National Stock Exchange of India on repatriation basis under the portfolio investment scheme of Reserve Bank of India and they are registered Shares Brokers with the National Stock Exchange of India at Mumbai. In the course of their business, they entered into a transaction of buying, selling and dealing in securities of the Global Trade Systems Limited, Himachal Futuristics Communication Limited, etc., and in the process, had engaged the services of the respondent No. 1 as broker. In terms of the Reserve Bank of Indias guidelines, the delivery of shares sold by the petitioners were effected through the respondent No. 1 in accordance with the contract and accordingly the petitioners were














































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