MADDI LAKSHMAIAH Vs. DUNCAN AGRO INDUSTRIES LIMITED

JUDGEMENT

(1.) By this Judge's summon the petitioners Maddi Lakshmaiah, Maddi Lakshmaiah & Co. Pvt. Ltd. and Maddi Lakshmaiah Agro Products Pvt. Ltd. seek, inter alia, appropriate direction against Duncan Agro Industries Ltd. to pay Rs. 60,24,689.32p ; if necessary, suitable order directing modification of the order dated 31st July, 1984 and in the event the said sum of Rs. 60,24,289.32p. is not paid by said Duncan Agro Industries Ltd. the company may be directed to be wound up.

(2.) The petitioners carry on business as suppliers of Tobacco. The National Tobacco Co. Ltd. also known as (NTC) which, until 1977 carried on business of processing of Tobacco and manufacturing of Cigarettes and Tobacco products. The said National Tobacco Co. Ltd. was one of the regular customers of the petitioners.

(3.) In or about 1977 Duncan Agro Industries Ltd. (hereinafter referred to as the 'DAIL') which was mainly engaged in the Tea business proposed to expand its business activities in Tobacco. In 1977 DAIL purchased from National Tobacco Ltd. its factory at Biccavolu in a bid to embark upon the Tobacco business. Thereafter, DAIL set up a separate division, called Tobacco Division for the purpose of manufacturing and selling of Tobacco / Cigarettes etc.