SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
Listen Audio Icon Pause Audio Icon
judgment-img

2007 Supreme(Bom) 1712

D.Y.CHANDRACHUD
Larsen & Toubro Limited – Appellant
Versus
Grasim Industries Limited – Respondent


Advocates appeared:
Dr. Virendra V. Tulzapurkar, Senior Advocate with Mr. N. H.Seervai,
Senior Advocate with Mr. S.V. Doijode, Mr. P.A. Kabadi and Ms.
Meenakshi Iyer i/b. Doijode Associates for the Plaintiffs.
Mr.I. M. Chagla, Senior Advocate with Mr. Prashant Beri i/b. M/s. Beri & Co. for Defendant No.1.
Mr.Janak Dwarkadas, Senior Advocate with Mr. Riyaz Chagla and Mr. Prashant Beri i/b. M/s. Beri & Co. for Defendant No.2.

JUDGMENT:

The dispute in the suit and in the Notice of Motion relates to a shareholding of 19,25,992 shares of the Defendants in the First Plaintiff. The Plaintiffs seek specific performance of an agreement by which the Defendants agreed, according to the Plaintiffs, to sell their shareholding of 9,62,996 shares in the First Plaintiff which, together with the accretion of bonus shares totals up to 19,25,992 shares. The Plaintiffs claim that there was an agreement by which these shares were to be sold to the Second Plaintiff at and for a consideration of Rs.240/- per share. There is a claim for damages in the amount of Rs. 461.41 crores in the event that the Court comes to the conclusion that specific performance cannot be granted. The interlocutory relief which is sought in the Motion is for the appointment of a Receiver and for an injunction restraining the Defendants from alienating the shares and exercising any rights in respect of the shares including voting rights or from receiving dividends. A mandatory injunction is sought requiring the Defendants to subscribe to shares, debentures or securities that may be offered by the Plaintiffs in respect of the holding of the shares in
















































Click Here to Read the rest of this document

1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top