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1995 Supreme(Guj) 461

H.L.GOKHALE
VEETRAG HOLDING COMPANY LIMITED – Appellant
Versus
GUJARAT STATE TEXTILE CORPORATION LIMITED – Respondent


Advocates Appeared: Amar N.Bhatt, B.R.GUPTA, Bhimrao N.Naik, Sanjay Gupta

H. L. GOKHALE, J.

( 1 ) THE appellant herein has filed this Appeal being aggrieved by the order passed by the learned Judge of the City Civil Court, Ahmedabad, below application for interim injunction (Exhibit 5) in Civil Suit No. 4673 of 1995 rejecting the application. The respondent herein is a Government company registered under the Companies Act. The Gujarat Closed Textile Undertakings (Nationalisation) Act, 1986 (the Act for brevity) came into force on 8-11-1985. The suit properties originally belonged to New Swadeshi Mills of Ahmedabad Limited. The same came to be vested in the Gujarat Government and then in the respondent-Corporation immediately on the above Nationalisation Act coming into force. The respondent had invited offers for the sale of the suit land admeasuring 2,41,875 sq. metres. The respondent had taken over the said Mill in accordance with the provisions of the Act, since the Mill was in financial difficulties and now it is the respondent itself which is in financial difficulty. It is reported to be sick and proceedings for revival thereof are reported to be pending before the Board of Industrial Finance and Reconstruction. Amongst others, for this purpose as we














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