STRIDES ARCOLAB LIMITED Vs. A RAMAMURTHY

JUDGEMENT

(1.) COMMON Order: Original Application No,89 of 2009 is filed seeking an order of ad interim injunction restraining the respondents from carrying on any business competing with the business of the second and third applicants for a period of three years from 9.6.2007.

(2.) APPLICATION No.1121 of 2009 is filed praying to vacate the order of interim injunction dated 5.2.2009 passed in O.A.Nos.88 and 89 of 2009.

(3.) THE respondents have contended in their common counter as follows:- THE first applicant Company is engaged in the pharmaceutical business and was looking to expand its reach and size. THE first and second respondents, being the promoters of the second and third applicants, executed a non-competition and non-solicit agreement. THE business contemplated in the non-competition clause relates to only the pharmaceutical business. It is true that even in the share purchase agreement, respondents 1 and 2 undertook to refrain from engaging in pharmaceutical business that may compete with the business of the applicants. THE acquisition in the agreement was only in respect of pharmaceutical business. THE applicants, having abused the process of law, have come out with the application seeking to restrain the respondents from carrying on the business in surgical devices. THErefore, the application filed by the applicants be dismissed.