( 1 ) PRENTICE Hall Inc. (now merged with Pearson education Inc.-appellant in Co. A. (SB) No. 20/2004), a well known publisher of international repute, wanted its foothold on Indian soil. Cerebrated move was to incorporated a company in India in accordance with the provisions of the Indian Companies Act. The proposed company was intended to be its subsidiary in India with objective to print and publish Indian editions of its educational titles for sale in India and export to such countries as would be specified. This idea struck prentice Hall Inc. some time in the year 1962. There were stringent laws at that time for setting up a subsidiary company by a foreign company and prior permission of the Government of India was a requisite precondition for this purpose. It, therefore, sought approval of the Government of India for this purpose. This request of Prentice Hall Inc. was considered by the government of India and it accorded approval for setting up a company for the aforesaid purpose with the condition that the foreign shareholding in the proposed company would be on a minority basis and not exceeding 49%. This foreign company, therefore, needed an Indian partner