Honble MADAN, J.–This first appeal arises out of judgment & decree dated 19.11.96 passed by the Additional District Judge No.1, Jaipur City whereby suit for specific performance of contract filed by plaintiff-appellant was dismissed.

(2). Prithvi Raj Singh (plaintiff-appellant) filed civil suit for specific performance of an agreement (Ex.1), which was duly executed on the basis of a memo of understanding (for short `MOU) dated 20.7.1987 duly executed between appellant-plaintiff and defendant-respondent No. 1 Dalip Kulkarni while acting on his own behalf and on behalf of his associates namely Skypak Couriers Limited (respondent No.5), Smt. Sheela M. Kulkarni (respondent No.6 ), Smt. Devika D. Kulkarni (respondent No.7), M.R. Patanakar (respondent No.8) and V. Chandra Shekaran (respon-dent No.9) all Directors of the Copyright Limited. According to the Memo of Understanding (Ex.1), the appellant and his associates constituted a Public Limited Company namely Copyright Limited (for short `Copyright Company") which was incorporated on 27.2.1984 holding major shares of the Company by the appellant and his associates. The Copyright Company established its factory at D-172 Industrial Area,

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