BABOO LALL JAIN, J.

( 1 ) THE instant application has been made by M/s. Loyal Shipping Pvt. Ltd, (hereinafter also referred to as 'the defendant') a company incorporated under the laws of the republic of Bangladesh, who is the owner of M. V. Loyal Bird, (hereinafter referred as to the 'said vessel' ). M/s. Al-Amin Seatrans Ltd, which is also a company incorporated under the laws of Bangladesh, instituted the above Admiralty Suit and obtained an order dated 7th July, 1994, for arrest of the said vessel M. V. 'loyal Bird'. Pursuant to the said order the said vessel was arrested while lying at the Haldia Docks. The said vessel was thereafter allowed by this court to be shifted to the Port at Calcutta.

( 2 ) ONE of the salient features of this case is that the chairman of the Board of Directors of the plaintiff is also the Chairman of the Board of Directors of the defendant. The Managing Director of the Plaintiff is also the Managing Director of the defendant. The only other two Directors of the plaintiff are also the Directors of the defendant. All the directors of the plaintiff including its chairman and managing director are the directors of the defendant. All the directors of the

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