K K MODI Vs. K N MODI

JUDGEMENT

(1.) Modipon Limited has two divisions. Chemical division and .Fibre division. Chemical division is controlled and managed by Group "A' company which is represented by Mr. M.K.Modi, defendant no.2. Fibre Division is controlled by Group 'B' company which is represented by Mr. K.K. Modi. Mr.K.K. Modi owns 12.65%' shares whereas Mr.M.K.Modi owns 9.07% shares. The litigation landed them in Supreme Court where on 7.1.1998 following interim order on the application of Mr.M.K.Modi was passed which reads as under :-

(2.) The appeal against the said order was finally decided by the Supreme Court on 4.2.1998 wherein aforesaid interim order of 7.1.1998 was ordered to continue to operate in terms thereof with liberty to the parties to apply to the High Court for any variation of this order in the event of any change in the circumstances.

(3.) Subsequently Mr.M.K.Modi, defendant no.2 filed Suit No.434/1998 wherein on 5.3.1998 following order was passed with the consent of the parties :-