written arguements of ptcl case on behalf of purchaser

8/8/2019 Written Arguements of Ptcl Case on Behalf of Purchaser

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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 .k..N 02/0=-09U/zhh Nzhzhh/wUNF.UFUFi o ihFi HsUPnU vEh EhU h\ wh Rv P z v>-

6. FUh l, FUh vV tr Uz Uz UFUFi o ihFi hh PF 5(N) PaP N.. N.k

(.k..N) PFi GrFi h Ez\hvz.

Fi z h PhtU L z vzFU K

P Phv. L zv U h\ hfzh

zsh. N. Vh vPh.

4. PF 5(N) GrFi v Bzz h>- FP 47-0


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 (f) Wcurge cl tme hekefachy fkb its

bepekbfdiaity. (d) Fboissidiaity cl tme hekefachy ukber tme Evibekge

Fgt. (g) F prcper use ik begisicks cr nubhoekts ck wmigm reaifkge is

pafgeb. (b) Fhe cl hekefachies. (e) Aitihfticks wmere sugm hekefachies

mfve deek fggepteb cr renegteb. (4) Ck tme questick cl fboissidiaity

tme lcaacwikh tests oust de fbcpteb> (f) Rme hekefachies cl tme

lfoiaies gckgerkeb oust lfaa witmik tme lcur- gcrkers cl s. 74(5) cr s.

67 cl tme Evibekge Fgt. (d) Rmey oust kct de mit dy tme bcgtrike cl

pcst aiteo octfo. (g) Rme hekefachies cr tme gafios gfkkct de prcveb

dy regitfas, bepcsiticks cr lfgts kfrrfteb ik tme nubhoekt wmigm mfve

deek meab dy f ackh gcurse cl begisicks tc de ikfboissidae. (b) Xmere

hekefachy is prcveb dy crfa evibekge, tme sfib evibekge oust gaefray

smcw spegifa oefks cl jkcwaebhe bisgacsikh tme exfgt scurge, tioe

fkb tme girguostfkges ukber wmigm tme jkcwaebhe is fgquireb, fkb

tmis oust de gaefray fkb gckgausiveay prcveb.

65.ehP wU v FiUz zTwU UnUtz GXvPn NF U vh i i Pk

B\h w U i FiiFiz U Fi w Hzv

U E HRhv.IK f gfse cl WRFRE CL DIMFT\s. TFBMFJTIWMKF WIKHM & CTW. FIT 69=7 WG

Fboissidiaity cl f bcguoekt is cke tmikh fkb its prcdftive vfaue,

quite fkctmer> f bcguoekt ofy de fboissidae fkb yet ofy kct gfrry

fky gckvigtick fkb weihmt cr its prcdftive vfaue ofy de kia. It is fasc

weaa settaeb tmft stfteoekts cr begafrfticks delcre perscks cl

gcopetekt jkcwaebhe ofbe fkte aiteo octfo fre regeivfdae tc prcve

fkgiekt rihmts cl f pudaig cr hekerfa kfture. Rme fboissidiaity cl sugm

begafrfticks is, mcwever, gcksiberfday wefjekeb il it pertfiks kct tc

pudaig rihmts dut tc pureay privfte rihmts. It is equfaay weaa settaeb tmft

begafrfticks cr stfteoekts ofbe pcst aiteo octfo wcuab kct de

fboissidae degfuse ik gfses cr prcgeebikhs tfjek cr begafrfticks

ofbe fkte aiteo octfo, tme eaeoekt cl difs fkb gckgcgtick is

eaioikfteb. Delcre, mcwever, tme stfteoekts cl tme kfture oektickeb

fdcve gfk de fboissidae fs deikh fkte aiteo octfo tmey oust kct

ckay de delcre tme fgtufa existekge cl fky gcktrcversy, dut smcuab de

ofbe evek delcre tme gcooekgeoekt cl aehfa prcgeebikhs. Rmis


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 (6) Rme


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 Wfhuvfai Gmit ik tmis rehfrb is extrfgteb deacw>-- Ck f

pafik refbikh cl tmis reaevfkt pcrtick cl Fkkexure-F it degcoes gaefr

tmft tme focukt cl Ts. 4


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 " "Lrfub" fs is weaa jkcwk vitiftes every scaeok

fgt. Lrfub fkb nustige kever bweaa tchetmer. Lrfub is f gckbugt eitmer

dy aetter cr wcrbs, wmigm ikgaubes tme ctmer persck cr futmcrity tc

tfje f belikite beteroikftive stfkb fs f respckse tc tme gckbugt cl tmelcroer eitmer dy wcrbs cr aetter. It is fasc weaa settaeb tmft

oisrepresektftick itseal focukts tc lrfub. Ikbeeb, ikkcgekt

oisrepresektftick ofy fasc hive refsck tc gafio reaiel fhfikst lrfub. F

lrfubuaekt oisrepresektftick is gfaaeb begeit fkb gcksists ik aefbikh f

ofk iktc bfofhe dy wiaaluaay cr regjaessay gfusikh mio tc deaieve fkb

fgt ck lfasemccb. It is f lrfub ik afw il f pfrty ofjes represektfticks,


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 Wegtick 2 fkb 5>

Iopuhkeb crber cl tme Beputy Gcooissicker fkb Fssistfkt

Gcooissicker fre ik vicaftick cl tme afw afib bcwk dy tme Gcurt ik tme

Bivisick Dekgm ruaikh ik Pebbf Tebby vs. Wtfte cl Jfrkftfjf 6997(6)

JAN.P.74= Fssistfkt Gcooissicker gfkkct pfss crbers ukaess me

regcrbs likbikhs viz., (6) tmft tme afkb deackhs tc Wgmebuaeb Gfste cr

Wgmebuaeb Rride: (4) tmft tme hrfkt wfs lcr upset prige cr lcr aess tmfk

tme upset prige cr lree hrfkt fkb (7) tmft faiekftick mfs tfjek pafge

witmik tme pericb cl tme prcmiditick presgrideb ik tme ruaes:

45. zTFi nU zTFi GFU t\ KGxPVhvz hv Gzh Fz iv. EzhFU

kU qPFi v Hzz v UVhvz.

Mckdae Wupreoe Gcurt ik its begisick repcrteb ik 400=(7)

JGGT.64=9 (D.J.Oukirfnu vs. Wtfte cl Jfrkftfjf fkb ctmers) mfs

meab tmft> Ik crber tc jkcw tme refa kfture cl tme bcguoekt, cke mfs tc


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 TB 98 AHP 90 mfve

spegiligfaay biregteb kct tc fggept pmctcstft gcpies cl bcguoekts

presekteb dy tme privfte pfrties tc tfje iopcrtfkt begisicks, witmcut

verilyikh tme crihikfas tc sftisly fs tc tme futmektigity cl tme

bcguoekt. Rme girguafr sfys aije tmis It mfs gcoe tc tme kctige cl

Hcverkoekt, tmft tme lieab aevea Clligers gcoikh ukber tme gcktrca cl

Tevekue Bepfrtoekt, aije Wtfops fkb Tehistrftick Bepfrtoekt,

Wurvey Wettaeoekt fkb Afkb Tegcrbs Bepfrtoekt, Ouzrfi fkb wfjl

Bepfrtoekt fkb ctmer bepfrtoekts fre fggeptikh pmctcstft gcpies cl


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 "5.

It is true tmft tme kfoe cl tme fppeaafkt is regcrbeb fs f "ryct" ik 7

ektries ik tme revekue fggcukts, Exmidits F-9, F-60 fkb F-aa. Exmidit F-

9 is fk extrfgt lrco tme Wettaeoekt Tehister cl tme viaafhe cl \ukhutur

fkb is relerreb tc fs Kc. 60 fggcukt cl \ukhutur viaafhe. Exmidits F-60

fkb F-aa fre extrfgts lrco tme Bihaet Tehister It mfs mcwever tc de

reoeodereb tmft fs fhfikst tmese strfy ektries faocst tme ektire

revekue regcrb is ik lfvcur cl tme Frgmfjs. Lcr exfopae, Exmidit D-79


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 It is weaa settaeb tmft f pfrty's fboissick fs belikeb ik

Wegticks 68 tc 40 lualiaaikh tme requireoekts cl Wegtick 46. EvibekgeFgt, is sudstfktive evibekge prcpric vihcre. Fk fboissick, il gaefray

fkb ukequivcgfaay ofbe, is tme dest evibekge fhfikst tme pfrty ofjikh

it fkb tmcuhm kct gckgausive, smilts tme ckus ck tc tme ofjer ck tme

prikgipae tmft "wmft f pfrty mioseal fboits tc de true oy refsckfday

de presuoeb tc de sc fkb uktia tme presuoptick wfs redutteb tme lfgt

fboitteb oust de tfjek tc de estfdaismeb. ..

77.hv b vFi U U nv hv zTwUU G NFz i i Po Eh PvFi W

irz. zn w U nUtU vUzP Phv.

Dfaesmwfr Rewfri (befb) dy ATs. fkb Crs. v. Wmec Nftfk Riwfry

fkb Crs. , . FIT 6998 WG 40=9 ...Ektries ik revekue regcrbs is tme

pfrfbise cl tme pftwfri fkb tme tiaaer cl tme scia is rfreay gckgerkeb

witm tme sfoe. Wc ackh fs mis pcssessick fkb ekncyoekt is kct

ikterbigteb dy bue prcgess fkb gcurse cl afw, me is aefst gckgerkeb

witm ektries. It is gcoock jkcwaebhe ik rurfa Ikbif tmft f rfiyft

fawfys rehfrbs tme afkbs me pacuhms, fs mis bcoikick fkb hekerfaay

cdeys, witm ocrfa lider tme gcoofkb cl tme ikteroebifry sc ackh fs

mis pcssessick is kct bisturdeb. Rmerelcre, greftick cl regcrbs is f

gfoculafhe tc beleft nust fkb aehfa rihmt cr gafio fkb ikterest cl tme


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 ". . . . Faa tmft we wism tc

eopmfsise is tmft fkytmikh fkb everytmikh bcke dy tme prcoisee ck

tme lfitm cl tme represektftick bces kct kegessfriay focukt tc faterikh

mis pcsitick sc fs tc pregaube tme prcoiscr lrco resiaikh lrco mis

represektftick. Il equity beofkbs tmft tme prcoiscr is faacweb tc

resiae fkb tme prcoisee is gcopeksfteb fpprcprifteay, tmft cuhmt tc

de bcke. Il, mcwever, equity beofkbs, ik tme aihmt cl tme tmikhs bcke

dy tme prcoisee ck tme lfitm cl tme represektftick, tmft tme prcoiscr

smcuab de pregaubeb lrco resiaikh fkb tmft me smcuab de meab lfst tc

mis represektftick, tmft smcuab de bcke. Rc repeft, it is f oftter cl

mcabikh tme sgfaes evek detweek tme pfrties tc bc nustige detweek

tmeo. Rmis is tme equity iopaigit ik tme bcgtrike. ... Rc wit, tme ruae cl

prcoisscry estcppea deikh fk equitfdae bcgtrike, mfs tc de ocuabeb

tc suit tme pfrtiguafr situftick. It is kct f mfrb fkb lfst ruae dut fk

eafstig cke, tme cdnegtive cl wmigm is tc bc nustige detweek tme pfrties

fkb tc extekb fk equitfdae treftoekt tc tmeo. Il it is ocre nust lrco

tme pcikt cl view cl dctm prcoiscr fkb prcoisee tmft tme aftter is


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 "It gfkkct de

bisputeb tmft f persck ik pcssessick cl afkb ik tme fssuoeb gmfrfgter

cl cwker fkb exergisikh pefgefday tme crbikfry rihmts cl cwkersmip

mfs f perlegtay hccb titae fhfikst faa tme wcrab dut tme rihmtlua cwker.

Fkb il tme rihmtlua cwker bces kct gcoe lcrwfrb fkb fssert mis titae dy

tme prcgess cl afw witmik tme pericb presgrideb dy tme prcvisick cl tme

stftute cl aioitftick fppaigfdae tc tme gfse, mis rihmt is lcrever

extikhuismeb fkb tme pcssesscry cwker fgquires fk fdscaute titae".

78.iP a vFi EhU Bv U b hFEh VFii wFi i FiiFi UFz z, Ezh

U v U Fiv. Ncmk D. Nfoes Fkb Ctmers vs

Dfkhfacre Beveacpoekt Futmcrity Fkb Fkctmer IAT 4000 JFT

2672, 4006 (6) JfrAN 7 T Tfveekbrfk, \ Wfdmfmit

Mfvikh rehfrb tc tme prikgipaes afib bcwk ik tme sfib begisicks, we

ofy gckvekiektay guaa cut tme aehfa pcsitick ik rehfrb tc f true cwker

vis-f-vis f trespfsser fs ukber> (i) F true cwker Zevek il it is tme Wtfte

cr f stftutcry dcby_ mfs kc rihmt tc lcrgiday bispcssess fk

ukfutmcrizeb cggupfkt Zikgaubikh f trespfsser_ ik settaeb pcssessick,


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WIKHM K.P. (N), FMOFBI, F.O. (N), YCHEWMXFT BFYFA (N) 6992

WGG (7) 57


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798 Rme begisick cl tme Tevekue Gcurts mfs tc de kegessfriay

dfseb ck tme ukbisputeb lfgts. Ik Nfhft Bmism Dmfrhfvf vs Nfwfmfr

Afa Dmfrhfvf & Ctmers (FIT 69


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zsh. N - WTIBMFTF DFDU. K - z> 9==07798- Ik gfse cl Urdfk Ioprcveoekt Rrust, Dijfker \s.

Ocmfk Afa delcre Wupreoe Gcurt cl Ikbif, BB 70-60-4009 DEKGM

NUWRIGE T.\. TF\EEKBTFK & NUWRIGE H.W. WIKHM\Iit is cdserveb dy gcurt

It is f oftter cl gckgerk tmft sugm lrivcacus fkb uknust aitihftick dy

hcverkoekts fkb stftutcry futmcrities fre ck tme ikgrefse. WtftutcryFutmcrities exist tc bisgmfrhe stftutcry lukgticks ik pudaig ikterest. Rmey

smcuab de respcksidae aitihfkts. Rmey gfkkct rfise lrivcacus fkb uknust

cdnegticks, kcr fgt ik f gfaacus fkb mihmmfkbeb ofkker. Rmey gfk kct demfveaije scoe privfte aitihfkts witm prcliteerikh octives. Kcr gfk tmey rescrt tc

uknust ekrigmoekt. Rmey fre expegteb tc smcw reocrse cr rehret wmek tmeirclligers fgt kehaihektay cr ik fk cverdefrikh ofkker. Xmek hafrikh wrckh

fgts dy tmeir clligers is drcuhmt tc tmeir kctige, lcr wmigm tmere is kc

expafkftick cr exguse, tme aefst tmft is expegteb is restitutick/restcrftick tctme extekt pcssidae witm fpprcprifte gcopeksftick. Rmeir mfrsm fttitube ik

rehfrb tc hekuike hrievfkges cl tme pudaig fkb tmeir ikbuahekge ikukwfrrfkteb aitihftick requires tc de gcrregteb.

Ik Gmcafk Tcfbwfys Atb. \s. H. Rmiruhkfkfsfodfkbfo Z(4005) 7 WGG426_, tmis Gcurt cdserveb> "It is kcw weaa settaeb tmft f qufsi-nubigifafutmcrity oust pcse uktc itseal f gcrregt questick sc fs tc frrive ft f gcrregt

likbikh cl lfgt. F wrckh questick pcseb aefbs tc f wrckh fkswer.

Ik Gcooissicker cl Pcaige, Dcodfy vs. Hcrbmfkbfs Dmfkni ZFIT 6954 WG

6 "Xe fre gaefr tmft pudaig crbers, pudaigay ofbe, ik exergisecl f stftutcry futmcrity gfkkct de gckstrueb ik tme aihmt cl expafkfticks

sudsequektay hivek dy tme clliger ofjikh tme crber cl wmft me oefkt, cr cl

wmft wfs ik mis oikb: cr wmft me iktekbeb tc bc. Pudaig crbers ofbe dypudaig futmcrities fre oefkt tc mfve pudaig ellegt fkb fre iktekbeb tc fllegt

tme fgtikhs fkb gckbugt cl tmcse tc wmco tmey fre fbbresseb fkb oust degckstrueb cdnegtiveay witm relerekge tc tme afkhufhe useb ik tme crber itseal."

Every fgtick cl tme Wtfte cr its ikstruoektfaities smcuab kct ckay de lfir,aehitiofte fkb fdcve-dcfrb dut smcuab de witmcut fky fllegtick cr fversick.

It smcuab keitmer de suhhestive cl bisgrioikftick kcr evek fppfrektay hive fkiopressick cl difs, lfvcuritiso fkb kepctiso. Rme begisick smcuab de ofbe

dy tme fppaigftick cl jkcwk prikgipae fkb ruaes fkb ik hekerfa sugm begisick

smcuab de prebigtfdae fkb tme gitizek smcuab jkcw wmere me is, dut il fbegisick is tfjek witmcut fky prikgipae cr witmcut fky ruae, it is


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ukprebigtfdae fkb sugm f begisick is fktitmesis tc tme begisick tfjek ik

fggcrbfkge witm tme ruae cl afw (vibe W.H.Nfisikhmfki \s. Ukick cl Ikbif &crs., FIT 69- L Fq Fi FiiFiU zzFv iFiiFiP zFzh 6 Nzhzhh Bz P shFzwi v BzP enFiz b v v tHTU FivwU vh Phv.

FP>

> vPh Fi h Vh

written arguements of ptcl case on behalf of purchaser

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