( 1 ) IN this somewhat unusual suit, under Order 37 of the Code of Civil Procedure, 1908, the plaintiff, Citibank 1. A. , seeks a decree for Rs. 77,10,733. 67, against the defendant Juggilal Kamlapat Jute Mills Co. Ltd. (for short jute Mills ).

( 2 ) J. K. Manufacturers Ltd. (for short Manufacturers Ltd. ) has a cotton textile manufacturing unit in Kanpur. This company was incurring heavy losses. In order to render the said textile unit into an economic, profitable and efficient unit and for the purpose of modernising and/or equipping it with additional plant etc. , Manufacturers Ltd. agreed to grant to jute Mills licence to use the said textile unit on terms and conditions as contained in the licence deed dated Sept. 25, 1971 (Annexure 1 to the plaint ). The licence was granted initially for a period of five years commencing from Oct. 1, 1971 on payment of licence fee of Rs. 50,000. 00 per month or a sum equal to 50% of the net profits earned by Jute Mills in the textile unit in each year whichever was higher. A supplementary agreement was executed between manufacturers Ltd. and jute Mills on Oct. 3, 1973 making some modifications in the original agreement.

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