UGRO CAPITAL LIMITED Vs. RAJ DRUG AGENCY

JUDGEMENT

(1.) The petitioner, M/s Ugro Capital Limited., is a company having its registered office at Equinoc Business Park, Tower- II, 4thFloor, Off BKC, LBS Road, Kurla, Mumbai- 400070, Maharashtra, India having its branch office at 20B, British India Street, 6thFloor, Kolkata- 700069. It is engaged in the business of providing customized loan services to its customers. It holds a license issued by the Reserve Bank of India to carry on business as a Non-Banking Financial Company.

(2.) The respondent no. 1, Raj Drug Agency, is a proprietorship concern having its place of business at M 42, Paharpur Road, Garden Reach, Kolkata- 700024. It is engaged in the business of pharmaceuticals and medical drugs. The respondent no. 2, Mr. Prakash Chandra Gupta, is the proprietor of respondent no. 1. The respondent no. 3, Kiran Gupta is the next of kin of respondent no. 2 and the respondent no. 4, Mr. Saikat Pal is an associate of the rest of the respondents. Relevant facts

(3.) On February 28, 2000, vide an agreement, respondent no. 4 was trusted to manage and run the business by respondent no. 2. Respondent no. 4 was also allowed to use the bank account and all other license and permissions for running the pharmaceuticals business.