( 1 ) THESE two Notices of motion are taken out for various interim reliefs in a suit which has been preferred by the shareholders of a company known as Spice jet Ltd. The defendant no. 7 company carries on the business of running a domestic airlines. The 7th defendant company originally commenced the commercial operations on 2/5/1993. The said company was formally known as Modi Luft Ltd. Sometime in or about 20/6/94 a collaboration agreement was executed between erstwhile company known as Modi Luft with Lufthansa under which it was agreed that the operation and management of the airlines will be taken over by Lufthansa. However it seems that in 1996 the said arrangement between Modi Luft and Lufthansa came to an end and there were litigations filed between the defendant no. 7 company which was then known as Modi Luft and Lufthansa. Ultimately an out of court settlement was arrived at between the defendant no. 7 and lufthansa on 13/8/1997. On 26/12/1997 the promoters of the defendant no. 7 received an approval from Foreign Investments Promotion board to raise U. S. $ 50 million for the issue and sale of cumulative redeemable convertiblr preference shares (shortly known as c. R. C.

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