( 1 ) THIS is an off-shoot of a spate of litigations arising out of an agreement for the sale of the controlling block of shares of a private company, Turner Morrison and Co. Private Ltd. The aims and objects of the seller and the buyer of the shares have shifted and changed with dramatic suddenness. The seller at one stage eager to complete the sale was stoutly resisted by the buyer. Later on the position changed altogether and the buyer shifted his position to one of great keenness to complete the sale and acquire the shares, the seller by then started advancing a claim for rescission of the contract for sale. This is the quick changing scene which forms the background of the matter.

( 2 ) THE application out of which this appeal arises was made by Hungerford Investment Trust Ltd. (in voluntary liquidation) the appellant and others for an order that the agreement dated October 30, 1956, and the decree dated February 25, 1964, do stand rescinded, for an order directing the Receiver to tender to the respondent No. 1 Haridas Mundhra 2,295 shares of Turner Morrison and Co. , Ltd. , and payment to the Receiver of a sum of Rs. 86,60,000/-, for an order that upon failu