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1997 Supreme(Guj) 546

M.S.SHAH
MAFATLAL INDUSTRIES LIMITED – Appellant
Versus
GUJARAT GAS COMPANY LIMITED – Respondent


Advocates Appeared: D.S.NANAVATI, S.B.VAKIL, S.N.SHELAT

M. S. SHAH, J.

( 1 ) THIS appeal is filed by the original plaintiff against the interlocutory order dated September 11, 1997 passed by the City Civil Court, ahmedabad rejecting the Notice of Motion filed by the appellant-plaintiff in Civil suit No. 3533 of 1997. In a Nutshell

( 2 ) THE subject-matter of the present suit is transfer of 3,81,000 equity shares in defendant No. 1-a Public Limited Company-Gujarat Gas Company Limited (hereinafter referred to as "the Company" or as "gujarat Gas") engaged in the supply and distribution of natural gas to domestic and industrial consumers in the State of gujarat. The appellant-plaintiff, which is a Company engaged in manufacturing textiles and chemicals, is a shareholder in Gujarat Gas with 49,95,325 shares amounting to about 39% of the shareholding. In all 5,00,000 shares amounting to 3. 87% of the total equity capital were sold by the plaintiff to defendant No. 2 a Foreign Institutional investor (FII) in October, 1993 and the said transfer was registered by the Company in December, 1993. Defendant No. 2 (through defendant No. 8 also an FII) thereafter sold 5,89,000 shares to defendant Nos. 6 and 7 (also FIIs) between March and november, 1996





















































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