w w w . L a w y e r S e r v i c e s . i n



Creation Investments Equitas Holdings LIC A wholly owned subsidiary of Creation Investments Social Ventures Fund II LP, United States of America v/s Small Industrial Development Bank of India (SIDBI) 7561, Overseas Towers, Anna Salai, Chennai


Company & Directors' Information:- EQUITAS HOLDINGS LIMITED [Active] CIN = L65100TN2007PLC064069

Company & Directors' Information:- EQUITAS HOLDINGS LIMITED [Active] CIN = U65100TN2007PLC064069

Company & Directors' Information:- C & C TOWERS LIMITED [Active] CIN = U45206HR2009PLC038928

Company & Directors' Information:- A V S R HOLDINGS PRIVATE LIMITED [Active] CIN = U67120TG2005PTC045117

Company & Directors' Information:- ANNA INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TN1994PTC028023

Company & Directors' Information:- R P G OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC035238

Company & Directors' Information:- S R HOLDINGS LIMITED [Active] CIN = U65993TN1988PLC083659

Company & Directors' Information:- S R HOLDINGS PRIVATE LIMITED [Active] CIN = U65993TN1988PTC083659

Company & Directors' Information:- A M R INVESTMENTS PRIVATE LIMITED [Under Liquidation] CIN = U65190MH2007PTC171972

Company & Directors' Information:- P V T VENTURES PRIVATE LIMITED [Active] CIN = U74900DL2015PTC288507

Company & Directors' Information:- A B HOLDINGS PRIVATE LIMITED [Active] CIN = U70102KA2006PTC040894

Company & Directors' Information:- K F INVESTMENTS PRIVATE LIMITED [Active] CIN = U74990KA2011PTC059232

Company & Directors' Information:- M K OVERSEAS PRIVATE LIMITED [Active] CIN = U25209DL1987PTC029976

Company & Directors' Information:- K S R (J AND K) INVESTMENTS PRIVATE LIMITED [Amalgamated] CIN = U67120JK1991PTC001234

Company & Directors' Information:- L P INVESTMENTS LIMITED [Active] CIN = U65921PB1974PLC003526

Company & Directors' Information:- S K A HOLDINGS LIMITED [Active] CIN = U65993DL1981PLC012592

Company & Directors' Information:- S K A HOLDINGS LIMITED [Active] CIN = L65993DL1981PLC012592

Company & Directors' Information:- G J HOLDINGS PRIVATE LIMITED [Active] CIN = U51100DL2004PTC126687

Company & Directors' Information:- G J HOLDINGS PRIVATE LIMITED [Active] CIN = U65993DL2004PTC126687

Company & Directors' Information:- P K OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059051

Company & Directors' Information:- U & M OVERSEAS PRIVATE LIMITED [Active] CIN = U25200DL2007PTC165258

Company & Directors' Information:- P P HOLDINGS LTD [Active] CIN = U65993PN1981PLC025916

Company & Directors' Information:- M H M G INVESTMENTS LIMITED [Active] CIN = U17232RJ1988PLC049708

Company & Directors' Information:- M H M G INVESTMENTS LIMITED [Active] CIN = U17232WB1988PLC044148

Company & Directors' Information:- B R K OVERSEAS PRIVATE LIMITED [Active] CIN = U51311DL2002PTC117390

Company & Directors' Information:- A V I OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059014

Company & Directors' Information:- G S D HOLDINGS PVT LTD [Strike Off] CIN = U70109WB1990PTC048518

Company & Directors' Information:- R K INDUSTRIAL CORPORATION LIMITED [Strike Off] CIN = U29300PB1996PLC017836

Company & Directors' Information:- VENTURES INDIA CORPORATION PRIVATE LIMITED [Strike Off] CIN = U45202MH2008PTC177464

Company & Directors' Information:- J C OVERSEAS LIMITED [Active] CIN = U65993WB1999PLC090116

Company & Directors' Information:- S T HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH1979PTC021588

Company & Directors' Information:- J S OVERSEAS PVT LTD [Active] CIN = U74899DL1994PTC058039

Company & Directors' Information:- Q VENTURES PRIVATE LIMITED [Active] CIN = U72200TG2012PTC078334

Company & Directors' Information:- H A OVERSEAS PRIVATE LIMITED [Active] CIN = U55101CH1999PTC032886

Company & Directors' Information:- B. R. OVERSEAS LIMITED [Active] CIN = U24111MP1973PLC001244

Company & Directors' Information:- M C HOLDINGS PRIVATE LIMITED [Active] CIN = U67190DL2009PTC190957

Company & Directors' Information:- A T OVERSEAS LTD [Active] CIN = U17115PB1995PLC015815

Company & Directors' Information:- H M TOWERS PRIVATE LIMITED [Active] CIN = U85110KA1996PTC020382

Company & Directors' Information:- K M INDUSTRIAL INVESTMENTS LTD [Active] CIN = L67120WB1981PLC033287

Company & Directors' Information:- A L OVERSEAS PRIVATE LIMITED [Active] CIN = U15300DL2013PTC250975

Company & Directors' Information:- J S K HOLDINGS PVT LTD [Active] CIN = U67120WB1994PTC065660

Company & Directors' Information:- S B M INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120WB1996PTC117347

Company & Directors' Information:- P R HOLDINGS LIMITED [Active] CIN = L27310AS1983PLC007154

Company & Directors' Information:- P R HOLDINGS LIMITED [Active] CIN = L27310DL1983PLC314402

Company & Directors' Information:- D R OVERSEAS PRIVATE LIMITED [Active] CIN = U15122DL2013PTC253214

Company & Directors' Information:- G R A HOLDINGS PVT LTD [Active] CIN = U70101WB1992PTC055865

Company & Directors' Information:- B S S HOLDINGS PVT LTD [Active] CIN = U67120WB1992PTC056874

Company & Directors' Information:- H M HOLDINGS PRIVATE LIMITED [Active] CIN = U65993ML2005PTC007956

Company & Directors' Information:- D. D. VENTURES LIMITED [Active] CIN = L50102DL1984PLC017834

Company & Directors' Information:- N P S INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120MP2005PTC017921

Company & Directors' Information:- S M H HOLDINGS PRIVATE LIMITED [Active] CIN = U65993TG2006PTC049309

Company & Directors' Information:- V B INVESTMENTS PRIVATE LIMITED [Active] CIN = U17100GJ1983PTC005999

Company & Directors' Information:- V B INVESTMENTS PRIVATE LIMITED [Active] CIN = U65910GJ1983PTC005999

Company & Directors' Information:- E & G VENTURES PRIVATE LIMITED [Active] CIN = U74999MH2010PTC210947

Company & Directors' Information:- M M HOLDINGS PVT LTD [Active] CIN = U70109WB1993PTC058147

Company & Directors' Information:- Z K INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120MH1996PTC101783

Company & Directors' Information:- D J HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH1992PTC067448

Company & Directors' Information:- R S M P HOLDINGS PRIVATE LIMITED [Active] CIN = U67190MH1995PTC088443

Company & Directors' Information:- R K TOWERS INDIA PRIVATE LIMITED [Active] CIN = U74899DL1976PTC008446

Company & Directors' Information:- M R OVERSEAS PRIVATE LIMITED [Active] CIN = U01111DL1998PTC092787

Company & Directors' Information:- S & S INVESTMENTS LIMITED [Amalgamated] CIN = U65993TN1980PLC008148

Company & Directors' Information:- G. K. INVESTMENTS LTD [Active] CIN = U65993WB1974PLC029382

Company & Directors' Information:- B C C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC058775

Company & Directors' Information:- A B T INVESTMENTS (INDIA) PRIVATE LIMITED [Active] CIN = U50101TZ2002PTC010085

Company & Directors' Information:- V A G HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC057817

Company & Directors' Information:- R B OVERSEAS PVT LTD [Active] CIN = U24200MH1982PTC028320

Company & Directors' Information:- S L OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1999PTC099800

Company & Directors' Information:- H L A INVESTMENTS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC057224

Company & Directors' Information:- SALAI HOLDINGS PRIVATE LIMITED [Active] CIN = U74900MN2014PTC008390

Company & Directors' Information:- B L OVERSEAS PRIVATE LIMITED [Active] CIN = U51109DL2008PTC177039

Company & Directors' Information:- K E HOLDINGS PRIVATE LIMITED [Active] CIN = U70101TN2013PTC089953

Company & Directors' Information:- A. S. INDIA LIMITED [Active] CIN = U70100MP2009PLC022300

Company & Directors' Information:- H A B INVESTMENTS PRIVATE LIMITED [Active] CIN = U70109PB2008PTC031708

Company & Directors' Information:- P K S HOLDINGS & INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TN2008PTC068202

Company & Directors' Information:- R J HOLDINGS AND INVESTMENTS (INDIA) LIMITED [Strike Off] CIN = U65993KA2006PLC039849

Company & Directors' Information:- R & R VENTURES PRIVATE LIMITED [Active] CIN = U45200MP2007PTC019319

Company & Directors' Information:- G D R OVERSEAS LIMITED [Strike Off] CIN = U51909TN1994PLC028831

Company & Directors' Information:- T R INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120WB1995PTC110837

Company & Directors' Information:- K D R INVESTMENTS LIMITED [Active] CIN = U65993DL1981PLC012418

Company & Directors' Information:- S. B. OVERSEAS PVT LTD [Active] CIN = U27101WB1994PTC065565

Company & Directors' Information:- J S M INVESTMENTS LTD [Active] CIN = L67120WB1981PLC034027

Company & Directors' Information:- B L S INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120WB1990PTC048679

Company & Directors' Information:- R J M INVESTMENTS LTD. [Active] CIN = L67120WB1988PLC044603

Company & Directors' Information:- G B OVERSEAS PRIVATE LIMITED [Active] CIN = U51109WB2007PTC116567

Company & Directors' Information:- G B OVERSEAS PRIVATE LIMITED [Active] CIN = U74110DL2007PTC317094

Company & Directors' Information:- O K INVESTMENTS PVT LTD [Active] CIN = U51109WB1985PTC039619

Company & Directors' Information:- P G K INVESTMENTS PRIVATE LIMITED [Active] CIN = U65910TG1999PTC032278

Company & Directors' Information:- G M B INVESTMENTS PVT LTD [Amalgamated] CIN = U67120WB1985PTC038868

Company & Directors' Information:- K C HOLDINGS PRIVATE LIMITED [Active] CIN = U65990MH1981PTC024688

Company & Directors' Information:- A TO Z HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1987PTC028294

Company & Directors' Information:- AT OVERSEAS INDIA PRIVATE LIMITED [Active] CIN = U74900DL2015PTC276303

Company & Directors' Information:- V R HOLDINGS PRIVATE LIMITED [Active] CIN = U70102KA2009PTC051724

Company & Directors' Information:- B P INDUSTRIAL CORPN. PVT LTD [Active] CIN = U15312UP1973PTC087037

Company & Directors' Information:- M. B. VENTURES PRIVATE LIMITED [Active] CIN = U29248WB2010PTC148853

Company & Directors' Information:- M D OVERSEAS LIMITED [Active] CIN = U52110DL1980PLC011099

Company & Directors' Information:- R C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1991PTC045610

Company & Directors' Information:- J AND S INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993MH1978PTC020524

Company & Directors' Information:- J B HOLDINGS LIMITED [Strike Off] CIN = U91110ML1995PLC004396

Company & Directors' Information:- A R K INVESTMENTS LTD [Strike Off] CIN = U65999WB1979PLC032141

Company & Directors' Information:- P N INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TN1980PTC008346

Company & Directors' Information:- N K CREATION PRIVATE LIMITED [Active] CIN = U18101DL2004PTC130574

Company & Directors' Information:- S S INVESTMENTS PVT LTD [Active] CIN = U70109AP1984PTC005156

Company & Directors' Information:- S V CREATION PRIVATE LIMITED [Active] CIN = U92110MH2004PTC145520

Company & Directors' Information:- P G T HOLDINGS LIMITED [Strike Off] CIN = U74899DL1994PLC057886

Company & Directors' Information:- T K INVESTMENTS PVT LTD [Active] CIN = U65921PB1983PTC005651

Company & Directors' Information:- S M HOLDINGS PRIVATE LIMITED [Active] CIN = U65990MH2011PTC225004

Company & Directors' Information:- M S R HOLDINGS LIMITED [Active] CIN = U85110KA1995PLC018599

Company & Directors' Information:- S M INDIA LTD [Strike Off] CIN = U26942ML1998PLC005541

Company & Directors' Information:- V N C A HOLDINGS PRIVATE LIMITED [Active] CIN = U74999TN2011PTC081684

Company & Directors' Information:- B. K. VENTURES PRIVATE LIMITED [Strike Off] CIN = U70109CT2007PTC020350

Company & Directors' Information:- S C HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U74899DL1986PTC025017

Company & Directors' Information:- S. R. O. OVERSEAS PRIVATE LIMITED [Active] CIN = U51101DL2014PTC268846

Company & Directors' Information:- UNITED INDUSTRIAL BANK LTD [Amalgamated] CIN = U65110WB1987PLC010014

Company & Directors' Information:- T E W INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993DL1995PTC064216

Company & Directors' Information:- S G HOLDINGS PVT LTD [Active] CIN = U70109WB1986PTC040839

Company & Directors' Information:- K P OVERSEAS LIMITED [Active] CIN = U51311DL2004PLC125574

Company & Directors' Information:- K C A HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC066204

Company & Directors' Information:- E I INVESTMENTS PVT LTD [Active] CIN = U65999WB1990PTC050386

Company & Directors' Information:- O P A INVESTMENTS PVT LTD [Active] CIN = U65993WB1990PTC048178

Company & Directors' Information:- M I OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1987PTC026966

Company & Directors' Information:- R F OVERSEAS PRIVATE LIMITED [Active] CIN = U51909PB1997PTC019643

Company & Directors' Information:- UNITED TOWERS INDIA PRIVATE LIMITED [Active] CIN = U74899DL1976PTC008447

Company & Directors' Information:- M R K OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1984PTC018631

Company & Directors' Information:- H P HOLDINGS LIMITED [Strike Off] CIN = U67120HP1997PLC019474

Company & Directors' Information:- K B INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120MH1978PTC020520

Company & Directors' Information:- L & W OVERSEAS PRIVATE LIMITED [Active] CIN = U17221PB2013PTC037343

Company & Directors' Information:- D D TOWERS PRIVATE LIMITED [Active] CIN = U45200PB2005PTC028227

Company & Directors' Information:- V M CREATION PRIVATE LIMITED [Active] CIN = U18101MH2001PTC133571

Company & Directors' Information:- R N T INVESTMENTS LIMITED [Active] CIN = U51503WB1982PLC034975

Company & Directors' Information:- C D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909DL1997PTC085553

Company & Directors' Information:- M R CREATION PRIVATE LIMITED [Active] CIN = U51109WB1998PTC086273

Company & Directors' Information:- S D INVESTMENTS PRIVATE LIMITED [Active] CIN = U65910TG1988PTC008691

Company & Directors' Information:- Y R INVESTMENTS PVT LTD [Active] CIN = U65921PB1989PTC009356

Company & Directors' Information:- C N M P INVESTMENTS PRIVATE LIMITED [Active] CIN = U74899DL1983PTC016061

Company & Directors' Information:- UNITED HOLDINGS PRIVATE LIMITED [Amalgamated] CIN = U51109UP1948PTC005498

Company & Directors' Information:- S D INVESTMENTS PRIVATE LIMITED [Active] CIN = U65910AP1988PTC008691

Company & Directors' Information:- P S S INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TZ1948PTC000143

Company & Directors' Information:- THE INDIA COMPANY PRIVATE LIMITED [Active] CIN = U74999TN1919PTC000911

Company & Directors' Information:- K L N HOLDINGS PRIVATE LIMITED [Active] CIN = U65990TG1986PTC006344

Company & Directors' Information:- I R S INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U67120DL1987PTC027943

Company & Directors' Information:- J D OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC038866

Company & Directors' Information:- H P M INVESTMENTS LIMITED [Strike Off] CIN = U67120DL1966PLC004591

Company & Directors' Information:- J & S VENTURES PRIVATE LIMITED [Active] CIN = U70101MN2014PTC008371

Company & Directors' Information:- M R HOLDINGS LIMITED [Active] CIN = U67120MH1978PLC020559

Company & Directors' Information:- J R VENTURES (INDIA) PRIVATE LIMITED [Active] CIN = U65990MH1983PTC029901

Company & Directors' Information:- J T HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH1979PTC021585

Company & Directors' Information:- E INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65100PY2011PTC002552

Company & Directors' Information:- N V C INVESTMENTS PVT LTD [Active] CIN = U65993TG1982PTC003588

Company & Directors' Information:- R R TOWERS PRIVATE LIMITED [Active] CIN = U45201DL2001PTC112814

Company & Directors' Information:- A C K INVESTMENTS PVT LTD [Strike Off] CIN = U65910GJ1981PTC004097

Company & Directors' Information:- A A P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909KA2007PTC042105

Company & Directors' Information:- K G OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1993PTC054832

Company & Directors' Information:- H K R HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1982PTC013032

Company & Directors' Information:- R J HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1982PTC013033

Company & Directors' Information:- A B O INVESTMENTS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC071067

Company & Directors' Information:- OVERSEAS CORPN. PVT LTD [Active] CIN = U67120WB1947PTC014910

Company & Directors' Information:- K D R HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1982PTC013034

Company & Directors' Information:- M & L INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993TN1982PTC009322

Company & Directors' Information:- P D R HOLDINGS PVT LTD [Amalgamated] CIN = U67120WB1996PTC077248

Company & Directors' Information:- M S INVESTMENTS PVT LTD [Active] CIN = U67120AS1995PTC004586

Company & Directors' Information:- W A HOLDINGS PRIVATE LIMITED [Active] CIN = U65993DL1997PTC084687

Company & Directors' Information:- W D HOLDINGS PRIVATE LIMITED [Active] CIN = U65993DL1997PTC084667

Company & Directors' Information:- B P INVESTMENTS LTD [Active] CIN = U65993WB1971PLC028138

Company & Directors' Information:- B P INVESTMENTS LTD [Active] CIN = L65993WB1971PLC028138

Company & Directors' Information:- J. J. INDUSTRIAL HOLDINGS PRIVATE LIMITED [Active] CIN = U70109WB2011PTC160403

Company & Directors' Information:- A K HOLDINGS PRIVATE LIMITED [Active] CIN = U74899UP1986PTC037306

Company & Directors' Information:- J R D HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059769

Company & Directors' Information:- C S HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U85110KA1995PTC018441

Company & Directors' Information:- R A HOLDINGS LIMITED [Strike Off] CIN = U17119GJ1986PLC037333

Company & Directors' Information:- J M INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120DL2000PTC104999

Company & Directors' Information:- M B TOWERS PRIVATE LIMITED [Active] CIN = U65991UP1996PTC020736

Company & Directors' Information:- G R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1992PTC050950

Company & Directors' Information:- A V HOLDINGS PVT LTD [Active] CIN = U51109WB1992PTC054035

Company & Directors' Information:- A P M INVESTMENTS LIMITED [Amalgamated] CIN = U65993TZ1980PLC003978

Company & Directors' Information:- K B R HOLDINGS PRIVATE LIMITED [Active] CIN = U67120TG1998PTC030518

Company & Directors' Information:- E K HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC040323

Company & Directors' Information:- N R HOLDINGS PVT LTD [Strike Off] CIN = U67120WB1993PTC060077

Company & Directors' Information:- B P A HOLDINGS PVT LTD [Strike Off] CIN = U74990DL1982PTC013326

Company & Directors' Information:- J S CREATION PRIVATE LIMITED [Strike Off] CIN = U18101WB1997PTC083751

Company & Directors' Information:- J C INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120KA1979PTC003632

Company & Directors' Information:- V V HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060480

Company & Directors' Information:- A M D OVERSEAS PRIVATE LIMITED. [Active] CIN = U52110DL1980PTC010622

Company & Directors' Information:- D D B HOLDINGS PVT LTD [Strike Off] CIN = U67120WB1992PTC055592

Company & Directors' Information:- C P VENTURES PRIVATE LIMITED [Strike Off] CIN = U55101OR2012PTC016058

Company & Directors' Information:- M S D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1995PTC069001

Company & Directors' Information:- M D HOLDINGS PRIVATE LIMITED [Active] CIN = U67120DL2001PTC111221

Company & Directors' Information:- R K G OVERSEAS PRIVATE LIMITED [Active] CIN = U51229DL1997PTC086734

Company & Directors' Information:- K P TOWERS PRIVATE LIMITED [Active] CIN = U70101RJ1997PTC013828

Company & Directors' Information:- P M P INVESTMENTS LTD [Strike Off] CIN = U65993TN1982PLC009601

Company & Directors' Information:- V H A HOLDINGS PRIVATE LIMITED [Converted to LLP and Dissolved] CIN = U65993DL2003PTC120147

Company & Directors' Information:- K E F HOLDINGS LTD [Amalgamated] CIN = U67120WB1988PLC045280

Company & Directors' Information:- J D S VENTURES INDIA LIMITED [Active] CIN = U24200MH2000PLC125107

Company & Directors' Information:- CHENNAI HOLDINGS (INDIA) LTD [Active] CIN = U65991TN1993PLC024702

Company & Directors' Information:- V I P TOWERS PVT LTD [Amalgamated] CIN = U45201WB1996PTC079615

Company & Directors' Information:- K B VENTURES PRIVATE LIMITED [Active] CIN = U15311ML2005PTC007854

Company & Directors' Information:- N D OVERSEAS PRIVATE LTD [Converted to LLP] CIN = U51900MH1994PTC076787

Company & Directors' Information:- A P HOLDINGS PVT LTD [Active] CIN = U65993PN1981PTC025915

Company & Directors' Information:- N W OVERSEAS PRIVATE LIMITED [Active] CIN = U51507HR1999PTC034265

Company & Directors' Information:- N. R. HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH1993PTC140612

Company & Directors' Information:- M B HOLDINGS LTD. [Not available for efiling] CIN = U70109WB1986PLC041226

Company & Directors' Information:- U V VENTURES PRIVATE LIMITED [Active] CIN = U51909WB2012PTC181717

Company & Directors' Information:- K. G. VENTURES PRIVATE LIMITED [Active] CIN = U74220DL2011PTC212564

Company & Directors' Information:- A V INVESTMENTS PVT LTD [Strike Off] CIN = U65910GJ1981PTC004714

Company & Directors' Information:- K M HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC064343

Company & Directors' Information:- R. G. OVERSEAS LIMITED [Strike Off] CIN = U27104TN1981PLC008963

Company & Directors' Information:- CHENNAI INVESTMENTS (INDIA) LTD [Strike Off] CIN = U65991TN1993PLC024697

Company & Directors' Information:- B R L VENTURES PRIVATE LIMITED [Active] CIN = U45205KA2012PTC067184

Company & Directors' Information:- P M OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL1991PTC045126

Company & Directors' Information:- A P S INVESTMENTS PVT LTD [Active] CIN = U67120CH1989PTC008950

Company & Directors' Information:- R K S INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993KA1980PTC003779

Company & Directors' Information:- R L VENTURES PRIVATE LIMITED [Active] CIN = U45202CT2006PTC020117

Company & Directors' Information:- J M B OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB1997PTC085224

Company & Directors' Information:- A S H HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL2004PTC125403

Company & Directors' Information:- D P INVESTMENTS PRIVATE LIMITED [Active] CIN = U65990MH1972PTC016045

Company & Directors' Information:- S C J OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1993PTC052913

Company & Directors' Information:- G R INVESTMENTS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U74899DL1981PTC012305

Company & Directors' Information:- M P CREATION PRIVATE LIMITED [Strike Off] CIN = U18101TZ2005PTC011799

Company & Directors' Information:- M C S OVERSEAS PVT LTD. [Strike Off] CIN = U51909WB1994PTC063666

Company & Directors' Information:- A K INVESTMENTS LIMITED [Strike Off] CIN = U70101WB1979PLC032240

Company & Directors' Information:- C M HOLDINGS PVT LTD [Strike Off] CIN = U45203WB1986PTC041627

Company & Directors' Information:- B. J. OVERSEAS PVT. LTD. [Strike Off] CIN = U24134WB1994PTC063846

Company & Directors' Information:- A H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51109UP1977PTC004421

Company & Directors' Information:- R M OVERSEAS LTD [Active] CIN = U51909PB1992PLC011971

Company & Directors' Information:- M H HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1995PTC067392

Company & Directors' Information:- S. B. VENTURES PRIVATE LIMITED [Active] CIN = U15530OR2009PTC011294

Company & Directors' Information:- I K HOLDINGS LTD [Strike Off] CIN = U70101WB1951PLC019703

Company & Directors' Information:- L O P OVERSEAS PRIVATE LIMITED [Active] CIN = U51109UP2001PTC026011

Company & Directors' Information:- C & R HOLDINGS PVT. LTD. [Active] CIN = U65929WB1991PTC051376

Company & Directors' Information:- S. L. TOWERS PRIVATE LIMITED [Active] CIN = U70200WB2019PTC235260

Company & Directors' Information:- V P R S VENTURES PRIVATE LIMITED [Active] CIN = U45309TN2020PTC139603

Company & Directors' Information:- THE INDUSTRIAL CORPORATION PRIVATE LIMITED [Active] CIN = U15420MH1921PTC000947

Company & Directors' Information:- R R OVERSEAS LTD [Active] CIN = U51909DL1993PLC054909

Company & Directors' Information:- I D S INVESTMENTS PRIVATE LIMITED [Active] CIN = U00000DL1985PTC020287

Company & Directors' Information:- S N R K CREATION PRIVATE LIMITED [Active] CIN = U51109WB2005PTC105068

Company & Directors' Information:- U D OVERSEAS PRIVATE LIMITED. [Strike Off] CIN = U74999DL2000PTC105257

Company & Directors' Information:- D & O VENTURES PRIVATE LIMITED [Active] CIN = U51900PB2014PTC038533

Company & Directors' Information:- B P VENTURES PRIVATE LIMITED [Active] CIN = U74140TN2002PTC049090

Company & Directors' Information:- R P VENTURES (INDIA) PRIVATE LIMITED [Strike Off] CIN = U51909TN2004PTC052895

Company & Directors' Information:- N. F. VENTURES PRIVATE LIMITED [Active] CIN = U74999UP2016PTC084631

Company & Directors' Information:- R T A VENTURES PRIVATE LIMITED [Strike Off] CIN = U74999TN2012PTC085909

Company & Directors' Information:- K G HOLDINGS PVT LTD [Active] CIN = U65929WB1987PTC042868

Company & Directors' Information:- S A OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2001PTC112769

Company & Directors' Information:- B & T HOLDINGS PRIVATE LIMITED [Active] CIN = U74920DL2007PTC171796

Company & Directors' Information:- K R TOWERS PRIVATE LIMITED [Active] CIN = U70103OR2020PTC033380

Company & Directors' Information:- A H R OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2000PTC103069

Company & Directors' Information:- H S OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2008PTC182147

Company & Directors' Information:- H D HOLDINGS PVT LTD [Amalgamated] CIN = U51109WB1991PTC051415

Company & Directors' Information:- J K TOWERS PRIVATE LIMITED [Active] CIN = U45209WB2008PTC124220

Company & Directors' Information:- N AND N HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1990PTC040846

Company & Directors' Information:- A & A INVESTMENTS INDIA PRIVATE LIMITED [Under Process of Striking Off] CIN = U74999TN2008PTC068491

Company & Directors' Information:- H R INVESTMENTS PVT LTD [Strike Off] CIN = U67120CH1992PTC012458

Company & Directors' Information:- S G OVERSEAS PRIVATE LIMITED [Active] CIN = U18101DL2000PTC105649

Company & Directors' Information:- S AND N VENTURES LIMITED [Active] CIN = U24117MH2007PLC166639

Company & Directors' Information:- INDIA CORPORATION PRIVATE LIMITED [Active] CIN = U65990MH1941PTC003461

Company & Directors' Information:- A L B INVESTMENTS PVT LTD [Strike Off] CIN = U67120DL1973PTC006943

Company & Directors' Information:- M P HOLDINGS PRIVATE LIMITED [Under Process of Striking Off] CIN = U67120DL1997PTC088350

Company & Directors' Information:- R AND R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL1987PTC030154

Company & Directors' Information:- L R K INVESTMENTS PRIVATE LIMITED [Active] CIN = U74899DL1981PTC012892

Company & Directors' Information:- K. B. INVESTMENTS PRIVATE LIMITED [Amalgamated] CIN = U67120OR1983PTC001163

Company & Directors' Information:- V S B INVESTMENTS PVT LTD [Active] CIN = U67120MH1995PTC164589

Company & Directors' Information:- R & J VENTURES PRIVATE LIMITED [Strike Off] CIN = U45200OR2013PTC017450

Company & Directors' Information:- B P HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC038274

Company & Directors' Information:- D & D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51420OR2009PTC010779

Company & Directors' Information:- A TO Z OVERSEAS PRIVATE LIMITED [Active] CIN = U51909PB2007PTC031342

Company & Directors' Information:- K P R HOLDINGS PRIVATE LIMITED [Active] CIN = U74900TZ2011PTC017467

Company & Directors' Information:- J P OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC059744

Company & Directors' Information:- S K VENTURES PRIVATE LIMITED [Strike Off] CIN = U45201OR2010PTC012858

Company & Directors' Information:- A & N VENTURES PRIVATE LIMITED [Active] CIN = U70100MH1982PTC027985

Company & Directors' Information:- R Q OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909MH2012PTC230840

Company & Directors' Information:- H M VENTURES PRIVATE LIMITED [Active] CIN = U67120TZ2013PTC019237

Company & Directors' Information:- C F C INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993WB1997PTC085444

Company & Directors' Information:- J M OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB2008PTC128957

Company & Directors' Information:- B AND B HOLDINGS PRIVATE LIMITED [Active] CIN = U70101AS1999PTC005674

Company & Directors' Information:- D N OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U24119DL1999PTC102409

Company & Directors' Information:- H A INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120DL1996PTC076439

Company & Directors' Information:- M. G. HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120DL2010PTC198226

Company & Directors' Information:- D G HOLDINGS PRIVATE LIMITED [Active] CIN = U65110DL1998PTC094466

Company & Directors' Information:- I R HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U74120DL2008PTC185743

Company & Directors' Information:- S I HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U74120DL2008PTC186043

Company & Directors' Information:- C. I. INVESTMENTS PRIVATE LIMITED [Active] CIN = U70101MP2007PTC019874

Company & Directors' Information:- A-3 OVERSEAS PRIVATE LIMITED [Active] CIN = U36900HR2016PTC063750

Company & Directors' Information:- C J G HOLDINGS INDIA PRIVATE LIMITED [Active] CIN = U70101KL2010PTC038559

Company & Directors' Information:- G F C INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993WB1997PTC085433

Company & Directors' Information:- D M OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74900DL1995PTC072532

Company & Directors' Information:- S G P INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65990MH1999PTC122024

Company & Directors' Information:- UNITED INDUSTRIAL DEVELOPMENT (INDIA) LIMITED [Active] CIN = U65990DL1998PLC096721

Company & Directors' Information:- OVERSEAS (INDIA) LTD [Strike Off] CIN = U51909WB1945PLC012624

Company & Directors' Information:- N N HOLDINGS PVT LTD [Strike Off] CIN = U65999WB1990PTC048493

Company & Directors' Information:- O M K HOLDINGS PVT LTD [Strike Off] CIN = U67120WB1995PTC072914

Company & Directors' Information:- B N OVERSEAS PVT LTD [Strike Off] CIN = U74899DL1991PTC042764

Company & Directors' Information:- M K HOLDINGS (INDIA) PRIVATE LIMITED [Strike Off] CIN = U65993TN1996PTC036985

Company & Directors' Information:- D D INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U74899DL1990PTC042362

Company & Directors' Information:- S N R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U00063KA1996PTC019873

Company & Directors' Information:- K I HOLDINGS PVT LTD [Strike Off] CIN = U67120MH1981PTC024069

Company & Directors' Information:- M H OVERSEAS LIMITED [Strike Off] CIN = U36911UP2000PLC025118

Company & Directors' Information:- V. R. OVERSEAS PRIVATE LIMITED [Active] CIN = U51109WB2006PTC107676

Company & Directors' Information:- UNITED INDIA INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120JK1983PTC000627

Company & Directors' Information:- D R HOLDINGS PRIVATE LIMITED [Active] CIN = U65993DL1982PTC013031

Company & Directors' Information:- R R HOLDINGS PRIVATE LIMITED [Active] CIN = U74899DL1983PTC017127

Company & Directors' Information:- G J HOLDINGS PVT LTD [Not available for efiling] CIN = U65993PB1985PTC006327

Company & Directors' Information:- R G INVESTMENTS PRIVATE LIMITED [Active] CIN = U67120MH1979PTC021933

Company & Directors' Information:- M G L HOLDINGS PRIVATE LIMITED [Active] CIN = U65993TN1994PTC029354

Company & Directors' Information:- T-VENTURES PRIVATE LIMITED [Active] CIN = U70200TG2016PTC110607

Company & Directors' Information:- I E S (OVERSEAS) PVT LTD [Active] CIN = U31200WB1974PTC029343

Company & Directors' Information:- P R INVESTMENTS PVT LTD [Strike Off] CIN = U67190WB1995PTC069706

Company & Directors' Information:- V B OVERSEAS PRIVATE LIMITED [Active] CIN = U28995DL1996PTC077049

Company & Directors' Information:- J N OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060359

Company & Directors' Information:- V C OVERSEAS PRIVATE LIMITED [Active] CIN = U51900DL2007PTC166741

Company & Directors' Information:- D & A VENTURES (INDIA) PRIVATE LIMITED [Active] CIN = U14200KA2015PTC081349

Company & Directors' Information:- K V R HOLDINGS PRIVATE LIMITED [Active] CIN = U65191KA2012PTC063353

Company & Directors' Information:- T M K OVERSEAS LIMITED [Strike Off] CIN = U51223KL1992PLC006416

Company & Directors' Information:- M C G INVESTMENTS PRIVATE LIMITED [Active] CIN = U45400GJ2000PTC038748

Company & Directors' Information:- N N D INVESTMENTS PRIVATE LIMITED [Amalgamated] CIN = U65993GJ1981PTC004702

Company & Directors' Information:- V E OVERSEAS PVT LTD [Strike Off] CIN = U31909DL1981PTC011849

Company & Directors' Information:- R N M HOLDINGS P LTD. [Active] CIN = U65921WB1990PTC050174

Company & Directors' Information:- C L V INVESTMENTS PVT LTD [Strike Off] CIN = U45205WB1980PTC032572

Company & Directors' Information:- M D HOLDINGS PVT LTD [Strike Off] CIN = U67120CH1983PTC005399

Company & Directors' Information:- R V HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U74899DL1989PTC036577

Company & Directors' Information:- S R D OVERSEAS PRIVATE LIMITED [Active] CIN = U52209DL2008PTC178806

Company & Directors' Information:- B J HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH1982PTC028820

Company & Directors' Information:- P R CREATION PRIVATE LIMITED [Active] CIN = U17119GJ2003PTC043174

Company & Directors' Information:- R S HOLDINGS PVT LTD [Active] CIN = U70109WB1986PTC040255

Company & Directors' Information:- C M D OVERSEAS PVT LTD [Active] CIN = U74899DL1995PTC073068

Company & Directors' Information:- D. P. TOWERS PRIVATE LIMITED [Strike Off] CIN = U45201DL1987PTC027884

Company & Directors' Information:- V A INVESTMENTS P LTD. [Active] CIN = U65991TN1990PTC019915

Company & Directors' Information:- A D HOLDINGS PVT LTD [Strike Off] CIN = U65993WB1976PTC030525

Company & Directors' Information:- S P HOLDINGS PVT LTD [Strike Off] CIN = U65993WB1988PTC044540

Company & Directors' Information:- R A HOLDINGS PVT LTD [Strike Off] CIN = U70200WB1986PTC040138

Company & Directors' Information:- A HOLDINGS PVT LTD [Strike Off] CIN = U70101WB1962PTC025617

Company & Directors' Information:- K R S HOLDINGS & INVESTMENTS PVT LTD [Strike Off] CIN = U67120WB1991PTC053572

Company & Directors' Information:- B I HOLDINGS PVT LTD [Strike Off] CIN = U65922WB1988PTC043690

Company & Directors' Information:- S N TOWERS PRIVATE LIMITED [Active] CIN = U70109WB2010PTC142785

Company & Directors' Information:- P A INVESTMENTS LTD [Strike Off] CIN = U65993WB1981PLC033620

Company & Directors' Information:- INDUSTRIAL BANK LIMITED [Dissolved] CIN = U65191KL1956PLC000452

Company & Directors' Information:- M B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC061016

Company & Directors' Information:- K P INVESTMENTS PVT LTD [Amalgamated] CIN = U65993MH1988PTC048956

Company & Directors' Information:- B G OVERSEAS PRIVATE LIMITED [Under Process of Striking Off] CIN = U74899DL1990PTC038859

Company & Directors' Information:- E TO E HOLDINGS INDIA PRIVATE LIMITED [Active] CIN = U65999KA2008PTC047780

Company & Directors' Information:- K S INVESTMENTS PRIVATE LIMITED [Converted to LLP] CIN = U50100TN1984PTC010634

Company & Directors' Information:- A. K. VENTURES PRIVATE LIMITED [Under Process of Striking Off] CIN = U51109MH2008PTC178815

Company & Directors' Information:- K S INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TN1984PTC010634

Company & Directors' Information:- S & P VENTURES PRIVATE LIMITED [Under Process of Striking Off] CIN = U67120TN2004PTC052758

Company & Directors' Information:- M A HOLDINGS PRIVATE LIMITED [Active] CIN = U26106UP2003PTC027990

Company & Directors' Information:- M N OVERSEAS PRIVATE LIMITED [Active] CIN = U51909WB2004PTC099257

Company & Directors' Information:- R L K OVERSEAS PRIVATE LIMITED [Converted to LLP] CIN = U74899DL1991PTC043115

Company & Directors' Information:- S C F INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U74899DL1991PTC044238

Company & Directors' Information:- M K TOWERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060144

Company & Directors' Information:- S S TOWERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060157

Company & Directors' Information:- K C TOWERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060163

Company & Directors' Information:- K J TOWERS PRIVATE LIMITED [Active] CIN = U74899DL1994PTC060174

Company & Directors' Information:- H R CREATION PRIVATE LIMITED [Strike Off] CIN = U72200DL2008PTC179886

Company & Directors' Information:- J S R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52399DL2009PTC190839

Company & Directors' Information:- G L HOLDINGS PRIVATE LIMITED [Dormant under section 455] CIN = U74996KA2008PTC044867

Company & Directors' Information:- J V VENTURES PRIVATE LIMITED [Strike Off] CIN = U63040KL2006PTC019157

Company & Directors' Information:- M P INVESTMENTS PVT LTD [Strike Off] CIN = U64991MP1974PTC001292

Company & Directors' Information:- S M B INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65921UP1994PTC016536

Company & Directors' Information:- K D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL1982PTC013342

Company & Directors' Information:- R J INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993MH1988PTC049997

Company & Directors' Information:- A AND M HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67190TG1995PTC021464

Company & Directors' Information:- K V S HOLDINGS PVT LTD [Strike Off] CIN = U65993WB1993PTC060850

Company & Directors' Information:- S S B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74120WB1997PTC086041

Company & Directors' Information:- V K HOLDINGS PRIVATE LTD [Strike Off] CIN = U27924DL1987PTC027924

Company & Directors' Information:- C J OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL1991PTC045545

Company & Directors' Information:- U A INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U63090DL1987PTC030052

Company & Directors' Information:- A AND P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74999DL1992PTC048780

Company & Directors' Information:- M V K INVESTMENTS PVT LTD [Strike Off] CIN = U99999MH1980PTC022879

Company & Directors' Information:- R J INVESTMENTS PRIVATE LIMITED [Not available for efiling] CIN = U99999MH1988PTC049997

Company & Directors' Information:- L B INVESTMENTS PVT LTD [Strike Off] CIN = U67120MH1981PTC024692

Company & Directors' Information:- UNITED BANK LIMITED [Liquidated] CIN = U93090TN1937PLC003162

Company & Directors' Information:- Q AND A HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120MH2000PTC127319

Company & Directors' Information:- K A R INVESTMENTS PVT LTD [Strike Off] CIN = U65993TG1985PTC005344

Company & Directors' Information:- S K HOLDINGS PVT. LTD [Strike Off] CIN = U99999UP1988PTC010231

Company & Directors' Information:- M M VENTURES PRIVATE LIMITED [Strike Off] CIN = U45100TG2005PTC048357

Company & Directors' Information:- S B TOWERS PRIVATE LIMITED [Strike Off] CIN = U45400WB2008PTC124856

Company & Directors' Information:- V & D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909DL2009PTC186537

Company & Directors' Information:- S K S INVESTMENTS PVT LTD [Strike Off] CIN = U65910GJ1981PTC004730

Company & Directors' Information:- M G INVESTMENTS PVT LTD [Active] CIN = U70109WB1949PTC017761

Company & Directors' Information:- V A HOLDINGS PVT LTD [Strike Off] CIN = U67120KL1986PTC004442

Company & Directors' Information:- B L INVESTMENTS PVT LTD [Strike Off] CIN = U65990GJ1982PTC005349

Company & Directors' Information:- P G OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74999DL1982PTC013479

Company & Directors' Information:- H S INVESTMENTS PRIVATE LIMITED [Active] CIN = U74899DL1979PTC009573

Company & Directors' Information:- AND INVESTMENTS PRIVATE LTD [Strike Off] CIN = U65923DL1981PTC012382

Company & Directors' Information:- S N OVERSEAS PRIVATE LIMITED [Active] CIN = U74996DL2006PTC150004

Company & Directors' Information:- S R HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U65993TN1980PTC008388

Company & Directors' Information:- D. T. OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U36911UP1996PTC020289

Company & Directors' Information:- R N TOWERS PVT LTD [Active] CIN = U74899DL1988PTC030737

Company & Directors' Information:- A R C OVERSEAS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC036343

Company & Directors' Information:- T D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52590DL2013PTC257410

Company & Directors' Information:- M T R HOLDINGS PRIVATE LIMITED [Active] CIN = U67110KA2007PTC042600

Company & Directors' Information:- T. T. INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U67120UP1994PTC017279

Company & Directors' Information:- H T S INVESTMENTS PVT LTD [Strike Off] CIN = U65921PB1986PTC006934

Company & Directors' Information:- V K OVERSEAS PVT LTD [Strike Off] CIN = U18209CH1990PTC010214

Company & Directors' Information:- J B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U17220DL1983PTC016197

Company & Directors' Information:- F C P INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U99999MH1981PTC023913

Company & Directors' Information:- K H OVERSEAS PVT LTD [Strike Off] CIN = U51496CH1989PTC009704

Company & Directors' Information:- R D INVESTMENTS PVT LTD [Not available for efiling] CIN = U51909PB1985PTC006323

Company & Directors' Information:- J & K VENTURES INDIA PRIVATE LIMITED [Strike Off] CIN = U80903OR2013PTC016477

Company & Directors' Information:- A. A. OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909PB2008PTC032010

Company & Directors' Information:- D H VENTURES PRIVATE LIMITED [Active] CIN = U70109PB2013PTC037223

Company & Directors' Information:- D S VENTURES PRIVATE LIMITED [Active] CIN = U70109PB2013PTC037432

Company & Directors' Information:- B A Y VENTURES PRIVATE LIMITED [Strike Off] CIN = U70109PB2014PTC038443

Company & Directors' Information:- D P VENTURES PRIVATE LIMITED [Active] CIN = U45209PB2011PTC035612

Company & Directors' Information:- A K INDUSTRIAL CORPORATION (INDIA) PRIVATE LIMITED [Active] CIN = U29130PN2014PTC151053

Company & Directors' Information:- B Y INVESTMENTS PVT LTD [Active] CIN = U65990MH1980PTC022770

Company & Directors' Information:- C S A HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U65990MH1995PTC092555

Company & Directors' Information:- A G S A VENTURES PRIVATE LIMITED [Strike Off] CIN = U51101MH2012PTC230980

Company & Directors' Information:- M R VENTURES PRIVATE LIMITED [Strike Off] CIN = U70102MH2012PTC230577

Company & Directors' Information:- K N Z HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120MH1998PTC117331

Company & Directors' Information:- S H HOLDINGS PRIVATE LIMITED [Active] CIN = U67120MH2001PTC131041

Company & Directors' Information:- Z H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51909MH2005PTC155819

Company & Directors' Information:- A T 9 VENTURES PRIVATE LIMITED [Active] CIN = U74999MH2013PTC240212

Company & Directors' Information:- SOCIAL INDIA PRIVATE LIMITED [Active] CIN = U72900MH2016PTC284656

Company & Directors' Information:- J INVESTMENTS PRIVATE LIMITED [Active] CIN = U65993TN1979PTC007776

Company & Directors' Information:- C B M INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993TZ1984PTC001467

Company & Directors' Information:- D L HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67100TN2012PTC083929

Company & Directors' Information:- P C T HOLDINGS PRIVATE LIMITED [Active] CIN = U70101TZ2004PTC010971

Company & Directors' Information:- T & D VENTURES PRIVATE LIMITED [Active] CIN = U93000TN2016PTC104302

Company & Directors' Information:- M J P HOLDINGS PRIVATE LIMITED [Active] CIN = U74900TG2015PTC098835

Company & Directors' Information:- 4 R INVESTMENTS PRIVATE LIMITED [Active] CIN = U65922TG2010PTC071820

Company & Directors' Information:- J A VENTURES PRIVATE LIMITED [Under Process of Striking Off] CIN = U52100UP2014PTC066450

Company & Directors' Information:- G & T VENTURES PRIVATE LIMITED [Strike Off] CIN = U74999TN2012PTC088485

Company & Directors' Information:- R & D VENTURES PRIVATE LIMITED [Active] CIN = U37100WB2014PTC199636

Company & Directors' Information:- P H HOLDINGS PVT LTD [Active] CIN = U67120WB1985PTC039369

Company & Directors' Information:- J D S HOLDINGS PRIVATE LIMITED [Active] CIN = U65993DL1993PTC053637

Company & Directors' Information:- M R S HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120DL2001PTC113197

Company & Directors' Information:- P & C TOWERS PRIVATE LIMITED [Active] CIN = U45400DL2008PTC183330

Company & Directors' Information:- A T INVESTMENTS PRIVATE LTD [Active] CIN = U74899DL1986PTC024983

Company & Directors' Information:- M R TOWERS PRIVATE LIMITED [Active] CIN = U74899DL1989PTC035352

Company & Directors' Information:- R V TOWERS PRIVATE LIMITED [Active] CIN = U45400DL2011PTC222351

Company & Directors' Information:- V AND V VENTURES PRIVATE LIMITED [Strike Off] CIN = U50100DL2014PTC274493

Company & Directors' Information:- E B OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101DL2007PTC157263

Company & Directors' Information:- A P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101DL2014PTC271288

Company & Directors' Information:- L & H VENTURES PRIVATE LIMITED [Active] CIN = U74140DL2012PTC232700

Company & Directors' Information:- N & N CREATION PRIVATE LIMITED [Strike Off] CIN = U17120DL2007PTC162086

Company & Directors' Information:- S H OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18101DL2002PTC116516

Company & Directors' Information:- S D S OVERSEAS PRIVATE LIMITED [Active] CIN = U51909DL2013PTC249539

Company & Directors' Information:- J S M S HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U45201DL2002PTC117110

Company & Directors' Information:- L T OVERSEAS PRIVATE LIMITED [Active] CIN = U15122DL2014PTC272665

Company & Directors' Information:- R P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U74899DL2000PTC108954

Company & Directors' Information:- S V OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U52100DL2013PTC258278

Company & Directors' Information:- V VENTURES PRIVATE LIMITED [Active] CIN = U70200AP2015PTC096366

Company & Directors' Information:- B R HOLDINGS PRIVATE LIMITED [Amalgamated] CIN = U74899HR1994PTC064054

Company & Directors' Information:- T & Y OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51505HR2012PTC047468

Company & Directors' Information:- S K N J INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U74140KA2007PTC042764

Company & Directors' Information:- G R D OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U80301HR2012PTC046968

Company & Directors' Information:- 4 L C VENTURES PRIVATE LIMITED [Active] CIN = U51909KA2015PTC084413

Company & Directors' Information:- P R S HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120KA2010PTC052295

Company & Directors' Information:- R VENTURES PRIVATE LIMITED [Converted to LLP] CIN = U50200GJ2015PTC083598

Company & Directors' Information:- T & T OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51900GJ2015PTC083022

Company & Directors' Information:- S K P OVERSEAS PRIVATE LIMITED [Active] CIN = U51909GJ2013PTC076553

Company & Directors' Information:- P R OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U27310GJ2014PTC079227

Company & Directors' Information:- J B VENTURES PRIVATE LIMITED [Strike Off] CIN = U74900KL2013PTC033913

Company & Directors' Information:- V P INVESTMENTS PVT LTD [Dormant under section 455] CIN = U65910GJ1981PTC004115

Company & Directors' Information:- A P INVESTMENTS PVT LTD [Dormant under section 455] CIN = U65910GJ1981PTC004116

Company & Directors' Information:- A J INVESTMENTS PVT LTD [Active] CIN = U65910GJ1981PTC004847

Company & Directors' Information:- K J A INVESTMENTS PRIVATE LIMITED [Amalgamated] CIN = U65910GJ1981PTC004849

Company & Directors' Information:- R N V INVESTMENTS PVT LTD [Strike Off] CIN = U65910GJ1982PTC005514

Company & Directors' Information:- D K INVESTMENTS PVT LTD [Strike Off] CIN = U65910GJ1982PTC005518

Company & Directors' Information:- B. P. CREATION PRIVATE LIMITED [Active] CIN = U22300OR2019PTC032264

Company & Directors' Information:- A R D VENTURES PRIVATE LIMITED [Active] CIN = U74999MP2020PTC052221

Company & Directors' Information:- II VENTURES PRIVATE LIMITED [Active] CIN = U74999MH2020PTC344808

Company & Directors' Information:- G T C OVERSEAS PVT LTD [Strike Off] CIN = U18101PB1993PTC013743

Company & Directors' Information:- M AND D HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U67120MH1981PTC025882

Company & Directors' Information:- C AND M INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65993RJ1995PTC010922

Company & Directors' Information:- V. V. INVESTMENTS PRIVATE LIMITED. [Strike Off] CIN = U65993JK1984PTC000665

Company & Directors' Information:- D AND P OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U18109DL1989PTC038623

Company & Directors' Information:- A T HOLDINGS PRIVATE LIMITED [Under Process of Striking Off] CIN = U74899DL1994PTC057216

Company & Directors' Information:- A R INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U99999MH1978PTC020588

Company & Directors' Information:- R. S. D. INVESTMENTS PVT LTD [Strike Off] CIN = U99999MH1982PTC028731

Company & Directors' Information:- B G S OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U51101PB2007PTC031400

Company & Directors' Information:- J AND S HOLDINGS PVT LTD [Strike Off] CIN = U67120RJ1996PTC012114

Company & Directors' Information:- J R B B INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U67120TN1990PTC019840

Company & Directors' Information:- I P S OVERSEAS PRIVATE LIMITED [Strike Off] CIN = U63030DL1976PTC008356

Company & Directors' Information:- O P INVESTMENTS PVT. LTD. [Strike Off] CIN = U67120HR1995PTC032595

Company & Directors' Information:- S K V HOLDINGS PRIVATE LIMITED [Strike Off] CIN = U65993DL1981PTC012910

Company & Directors' Information:- S M K S HOLDINGS PVT LTD [Strike Off] CIN = U45400WB1990PTC048498

Company & Directors' Information:- U P K INVESTMENTS PVT LTD [Not available for efiling] CIN = U65993WB1974PTC029672

Company & Directors' Information:- B D K INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U99999MH1979PTC021782

Company & Directors' Information:- A M L INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65910GJ1981PTC004180

Company & Directors' Information:- S H P INVESTMENTS PRIVATE LIMITED [Strike Off] CIN = U65910GJ1981PTC004675

Company & Directors' Information:- UNITED INVESTMENTS PRIVATE LIMITED [Under Liquidation] CIN = U65993KL1901PTC001266

Company & Directors' Information:- INDUSTRIAL DEVELOPMENT COMPANY LIMITED [Strike Off] CIN = U99999KA1938PLC000231

Company & Directors' Information:- THE INDUSTRIAL CORPORATION LIMITED [Strike Off] CIN = U00804KA1948PLC000529

Company & Directors' Information:- UNITED INDIA BANK LIMITED [Not available for efiling] CIN = U65191KL1947PLC001273

Company & Directors' Information:- INDIA AND OVERSEAS CORPORATION LIMITED [Dissolved] CIN = U99999MH1947PTC005626

Company & Directors' Information:- UNITED HOLDINGS PRIVATE LIMITED [Not available for efiling] CIN = U99999MH1961PLC012101

Company & Directors' Information:- R D INVESTMENTS PVT LTD [Strike Off] CIN = U65990MH1978PTC020590

Company & Directors' Information:- P P S INVESTMENTS COMPANY. [Strike Off] CIN = U31200GA1978ULL000325

    Original Petition No. 812 of 2016

    Decided On, 11 July 2019

    At, High Court of Judicature at Madras

    By, THE HONOURABLE MR. JUSTICE N. SATHISH KUMAR

    For the Petitioner: Satish Parasaran (Sr. Counsel), Vinod Kumar, Advocate. For the Respondent: P.H. Arvind Pandian (Sr. Counsel), M/s. Cyril Amarchand Mangaldas, Advocate.



Judgment Text

(Prayer: This Original Petition has been filed under section 34 of the Arbitration and Conciliation Act to set aside the Majority Award dated 19.09.2016 passed by the Arbitral Tribunal.)

Aggrieved over the majority award rejecting the claim of the petitioner, the present Original Petition has been filed.

2. Brief facts leading to filing of this petition is as follows :

The Claimant and the respondent have entered into a Share Purchase Agreement on 11.12.2013 for purchase of 20,59,277 equity shares of Rs.10/- for a consideration of Rs.140.85 per equity share constituting 3.56 of the fully paid up equity share capital of the respondent company. The total sale consideration agreed was Rs.29,00,49,165/-. The agreement provides for compliance of certain conditions precedent for the sale and purchase of shares. One of the condition precedent for sale/purchase of share was the receipt of all necessary regulatory approvals and consent by RBI, Foreign Investment Promotion Board [FIPB]. The term of the said Agreement was fixed for a period of 90 days from 11.12.2013 with an option to extend the said agreement for a period of 60 days, if the regulatory approvals are pending.

3. It is the case of the Claimant that they made an application before FIPB on 21.12.2013 seeking approval of the transfer of the said shares. Since approval could not be obtained within 90 days, the parties mutually extended the duration of the said agreement for a further period of 60 days i.e., on or before 09.05.2014. It is the further case of the Claimant that FIPB in its meeting on 28.03.2014 considered the application of the said company for transfer of the shares to the Claimant and granted approval for the same. The said approval dated 09.05.2014 has been received by the company on 15.05.2014. The said company had transferred the said approval to the petitioner and the respondent on 15.05.2014. On 24.06.2015, M/s.Equitas Holdings Private Limited had issued bonus shares to its shareholders. In each Equity Shares, two Bonus Equity shares were issued to the share holders. The respondent was issued 41,18,554 Equity Shares as Bonus Shares. Therefore, it is the case of the Claimant that the above bonus shares are liable to be transferred to the Claimant in consequence of holding the sale shares. As the respondent had refused to sell the shares in terms of the Agreement of Sale, the matter was referred to Arbitration.

4. It is the case of the respondent that as per the agreement, Equitas Holdings Company was to issue necessary notice on approval from the FIPB for completion of transaction. As per the SPA, as the approvals should be obtained within 90 days from the date of Share Purchase Agreement and though the claimant and the respondent have extended the Share Purchase Agreement for further period of 60 days as per clause 8.2, the regulatory approvals are pending. The above clause is the essence of Share Purchase Agreement. FIPB approval was not obtained within a period of 90 days from the date of execution of Share Purchase Agreement. Accordingly, further period of 60 days was extended upto 09.05.2014 for receiving FIPB approval and consequently for the purchase of 20,59,277 on or before 09.05.2014. Admittedly, the approval of FIPB was received only on 15.05.2014 and forwarded to the respondent company on 09.05.2014, after the expiry of Share Purchase Agreement. It is the further contention of the respondent that the receipt of FIPB approval authorises other conditions in accordance with clause 3.2 of Share Purchase Agreement. Since the conditions precedent were not satisfied, the sale and purchase of equity shares much after expiry on 09.05.2014 cannot be considered and hence, the respondent communicated not to proceed with the transaction.

5. The Arbitral Tribunal framed the following Issues :

1. Whether the FIPB approval was granted within the term of the Share Purchase Agreement (SPA) in Ex.C.1 = Ex.R.1?

2. If the approval from the FIPB was granted during the term of the Share Purchase Agreement, were the parties obliged to complete the sale and purchase of the Sale Shares in terms of Clause 8.3 (i) of the Agreement Ex.C.1 = Ex.R.1?

3. Whether the receipt of approval from FIPB for the transaction as contemplated in Clause 3.2(i) of SPA in Ex.C.1 = Ex.R.1 refers to date of actual receipt by the parties of the written approval of FIPB? And if so, whether the date of satisfaction of condition precedent as mentioned in Clause 3.2(i) of the SPA should be taken as 15th May, 2014?

4. Will the non-fulfillment of the conditions in clause 3.2(iii) to (v) of the Share Purchase Agreement Ex.C.1 + Ex.R.1 can be valid ground for the respondent to refuse to perform its obligations under the Agreement?

5. Whether the respondent had committed breach of terms of Share Purchase Agreement by not transferring the Sale Shares to the Claimant? And if so, whether the respondent is liable to transfer the sales under the Share Purchase Agreement and the bonus shares allotted to it to the Claimant?

6. Whether the SPC is a determinable contract? If yes, is the relief of specific performance sought for by the Claimant legally maintainable?

7. Whether the Claimant is entitled to the reliefs as claimed in its statement of claim? And if so, whether the Claimant is entitled to the 41,18,854 bonus equity shares issued by Equitas Holdings Pvt. Ltd. From the respondent?

and finally the majority version of the Arbitral Tribunal dismissed the claim of the petitioner for specific performance of the Share Purchase Agreement. Whereas, the minority decision of the Tribunal has granted specific performance. Challenging the same, the present petition has been filed.

6. The learned Senior Counsel, Mr.Satish Parasan, appearing for the petitioner mainly contended that the entire issue in this matter revolves around the interpretation of the Clause 3 of the Share Purchase Agreement. It is his contention that Clause 3, condition precedent set out in the Share Purchase Agreement has been complied. It is his further contention that the intention of the parties was not to obtain physical receipt of approval. Obtaining approval from FIPB is a condition precedent for transfer of shares. Therefore, actual physical receipt of such approval is not necessary. The email of the respondent clearly prove the fact that on 28.03.2014 itself FIPB approved the transfer of shares, which are subject matter of the agreement. M/s.Equitas company communicated the same to the petitioner by email. This fact clearly indicate that the approval was granted much prior to the expiry date, viz., 09.05.2014. Similarly, it is his further contention that waiver on the part of the petitioner has also been clearly established. Once the petitioner has established the waiver, clause 3(1) of the contract is in their favour for transfer of shares. It is his further contention that approval was granted in this case by FIPB before the expiry date, i.e., 09.05.2014. Therefore, the termination of the agreement shall not relieve any party of any obligation or liability accrued prior to the date of termination of the contract as per Clause 8.3 of the contract. It is his further contention that the learned Arbitrators have failed to consider the relevant clauses and the contract has been re-written. Hence, it is his contention that when the Arbitrators have passed the Award beyond the scope of the contract and the contract has been re-written, such an Award passed by the Arbitrators cannot be sustained in law. In support of his submissions, he placed reliance on the following judgments :

Mumbai Metropolitan Region Development Authority Vs. Unity Infraproject Limited reported in 2008 SCC OnLine Bom 190

Nabha Power Limited (NPL) Vs. Punjab State Power Corporation Limited (PSPCL) and another reported in 2018 (11) Supreme Court Cases 508

ICICI Bank Limited Vs. United Breweries (Holdings) Limited and others reported in 2015 SCC Online Bom 5913

Killipara Sriramulu (dead by his legal representative Vs. T.Aswatha Narayana (dead) by his legal representative and others reported in AIR 1968 Supreme Court 1028

JRRT (Investments) Ltd and others V. Haycraft and others reported in Butterworths Company Law Cases 1993 BCLC 401

Charter Reinsurance Co. Ltd. Vs. Fagan reported in AC 1997 12 House of Lords 313

Multichannel (India) Limited Mumbai Vs. Kavitalaya Productions Pvt Ltd. And others reported in AIR 1999 Madras 59

Investors Compensation Scheme Ltd, Vs. West Bromwich Building Society reported in 1998 House of Lords 896

Dr.Jiwn Lal and others Vs. Brij Mohan Mehra and another reported in 1972 (2) Supreme Court Cases 757

Jamshed Hormusji Wadia Vs. Board of Trustees, Port of Mumbai and another reported in 2004 (3) Supreme Court Cases 214

7. The learned Additional Advocate General appearing for the respondent submitted that the learned Arbitrators have interpreted the contract and given a literal meaning. The contract has not been re-written as alleged by the learned counsel appearing for the petitioner. The learned Arbitrators have made threadbare analysis of the entire contract and has found that the Share Purchase Agreement has been terminated and approval has not been received within the time. Therefore, when the Arbitrators have considered the entire aspects and found that the claim of the petitioner is not maintainable, this Court cannot re-appreciate the entire evidence. Hence, it is his contention that issue of waiver, i.e, the condition precedent, cannot be raised before this Court. The plea of waiver has been given up by the petitioner before the Arbitral Tribunal. Even in the claim petition, the plea of waiver has been given up by them. It is his further contention that the respondent has sustained huge monetary loss since an injunction has been obtained by the petitioner and hence, this petition is liable to be dismissed and the respondent is entitled for price variation as undertaken by the petitioner. In support of his submission, he has relied upon the following judgments :

Board of Control for Cricket in India Vs. Kochi Cricket Pvt. Ltd. And others reported in AIR 2018 Supreme Court 1549

Associate Builders Vs. Delhi Development Authority reported in 2015 (3) Supreme Court Cases 49

G.Sathyan Vs. B.Vasudevan and others (DB) reported in 2017 (1) CTC 553

G.Sathyan Vs. B.Vasudevan and others reported in 2017 (1) CTC 534

Satya Metal Industries Vs. Union of India and others reported in Manu/TN/0334/2017

S.Malliga Vs. The Chief Regional Manager, Hindustal Petroleum Corporation Ltd. And others reported in 2016 (4) CTC 309

National Highways Authority of India Vs. ITD. Cementation India Limited reported in 2015 (14) SCC 21

Kumar Mangat Pathak, Sole Proprietor of Big Screen Entertainer Vs.Cinema Capital Venture Fund through 1. Urmila Gupta and another reported in 2018 SCC OnLine Bom 1601

HRD Corporation Vs. Gail (India) Limited reported in 2018 (12) SCC 471

Chennai Container Terminal Private Limited Vs. The Board of Trustees of Chennai Port Trust and others reported in 2018 (4) MLJ 385

Silver Resorts Hotel India Pvt. Ltd. Vs. Wimberly Allison Tong & Goo (UK) reported in Manu/DE/1650/2016.

8. Heard the learned Senior Counsel appearing for the petitioner and the learned Additional Advocate General appearing for the respondent and perused the majority and minority Awards passed by the Arbitral Tribunal.

9. The majority view of the Arbitrators have considered various clauses in the contract and has held that the specific performance of the Share Purchase Agreement cannot be enforced in view of the specific conditions or obligations in the contract has not been fulfilled. It is not in dispute with regard to the entering into Share Purchase Agreement between the parties. The relevant clauses of the agreement reads as follows :

Clause – 2 Sale and Purchase of the Sale Shares

On and subject to the terms and conditions herein

(i) the Seller agrees to sell and transfer to the Purchases 2,059277 equity shares of the Company (“Sale Shares') at Rs.140.85 per Equity Share constituting 3.56% of the fully paid up equity share capital of the Company as on the Effective Date and the Completion Date and

(ii) the Purchaser agrees to purchase and acquire the Sale Shares on the Completion Date (defined below) for a consideration of Rs.29,00,49,165/- (Rupees twenty nine crores forty nine thousand one hundred and sixty five only) ('Sale Consideration”) which shall be payable by the Purchaser to the Seller in the manner contained in this Agreement.

3. Conditions Precedent

3.1 The Purchaser shall not be obligated or liable to purchase and the Seller shall not be obligated or liable to sell any or all the Sale Shares unless and until all the conditions set forth in this Clause 3 (“Condition Precedent”) have been satisfied waived and or deferred in writing by the Purchaser. Upon completion of the Condition Precedent, the Seller shall promptly give written notice to Purchaser of such completion in the format provided under Schedule 1 to the Agreement (“CP Completion Certificate”).

3.2 The Conditions Precedent to the Transaction shall be the follows :

(i) Receipt of all necessary regulatory approvals and/or consents for the Transaction, including approval from the Reserve Bank of India (“RBI) and FIPB for the Transaction, provided no adverse obligations are imposed on the Purchaser;

(ii) Compliance with all the requirements and conditions, as may be necessary under the articles of association of the Company (“Articles”) for the consummation of the Transaction.

(iii) The representations and warranties of the Seller, set out in Clause 5 of this Agreement, being true, correct and complete as of the date of this Agreement, and as of the Completion Date, as though made on each such date.

10. The entire enforcement of the agreement revolves around clause 3 (i) and (ii) of the terms of the contract. The finding of the majority Award is also relevant to be extracted and the same reads as follows :

“Admittedly, clause 3.2 provides for the conditions precedent, the first of which is the receipt of regulatory approvals from FIPB and RBI, provided no adverse obligations are imposed on the Claimant – Purchaser. It is trite law that contracts are to be interpreted by the parties herein have categorically agreed to use the phrase “receipt” of approvals from FIPB which establishes that they intended actual physical receipt of the approval. If they had intended otherwise, the phrase 'receipt' would not have been used and instead clause would have read to mean “approvals from FIPB”. The word “receipt” makes a world of difference to clause 3.2(i). There is one other factor in clause 3.1 which supports the above interpretation. The Claimant being a non-resident Indian has to mandatorily seek the approval of FIPB. It is open for FIPB to grant conditional approval depending on various factors. The clause specifically states “provided no adverse obligations are imposed on the Purchaser”. If FIPB had passed any adverse obligations, the same would not be known to the Purchaser as well as the Respondent unless and until the receipt of the approval is physically handed over to the Respondent. Therefore, the phrase “receipt” would mean actual physical receipt of the approval. The same cannot be equated to the factum of approval, both being two different aspects. We have to take a natural meaning of the word “receipt”. Receipt comes from receive. It involves actual and virtually or constructively received that is fact of being received. The said word is free from doubt and ambiguity. Terms of the share purchase agreement/contract are very important and as per the Section 28 of the Arbitration and Conciliation Act 1956, the Arbitral Tribunal must decide in accordance with terms of the contract. Therefore, the Respondent is not obliged to perform the terms of the SPA since the conditions precedents have not been satisfied.”

The Arbitral Tribunal has held that mainly because the approval was not granted on 09.05.2014 during the subsistence of Share Purchase Agreement and held that the receipt cannot be equated with the approval.

11. The Minority Award when perused, the same indicate that the Award mainly focused on finding fault in the Majority Award. Whereas, the Majority Members have analysed the entire terms of the contract and also taken into consideration that the Clause 8, 8.03 does not include clause 3 (i) or clause 3 (ii) to survive termination of Share Purchase Agreement.

12. In the above background, now when the judgments cited by the learned counsel for the petitioner when analysed, in the judgment in Jamshed Hormusji Wadia Vs. Board of Trustees, Port of Mumbai and another reported in 2004 (3) Supreme Court Cases 214 the apex Court has held that the State and its authorities including instrumentalities of States in all their activities including those in the field of contracts have to be just, fair and reasonable. In the judgment in Dr.Jiwn Lal and others Vs. Brij Mohan Mehra and another reported in 1972 (2) Supreme Court Cases 757, the condition precedent in the above judgment, the waiver clause in the contract has been satisfied and the waiver clause does not create liability against the vendee and he can waive it. In the judgment in Mumbai Metropolitan Region Development Authority Vs. Unity Infraproject Limited reported in 2008 SCC OnLine Bom 190, the Bombay High Court has held that in interpreting a contract, the Court cannot place emphasis on an isolated provision divorced from the context and unrelated to the other provisions which govern contractual obligations. The duty of the Court when called upon to assess where the balance lies in a contractual dispute, is to read the contract as a whole in order to understand the business meaning which the parties attributed to their obligations. Interpretation in law must ensure in commercial matters that the view which the Court takes records the sense, which the parties to an arms length transaction attribute to the terms which they incorporate.

13. In judgment in Investors Compensation Scheme Ltd, Vs. West Bromwich Building Society reported in 1998 House of Lords 896, it has been held that

“The House of Lords held allowing the appeal (Lord Lloyd of Berwick dissenting) that in construing contractual documents th aim was to find the meaning which the document would convey to a reasonable person having all the background knowledge reasonably available to the parties, including anything which would have affected the way a reasonable man would have understood it, but excluding previous negotiations and declarations of subjective intent; that the meaning which a document would convey to a reasonable man was what the parties using its words against the relevant background would reasonably have been supposed to mean and included the possibility of ambiguity and even misuse of words or syntax; that the Court was not obliged to ascribe to the parties an intention which plainly they could not have had, and in choosing between competing unnatural meanings was entitled to decide that the parties must have made mistakes of meaning or syntax; that a claim to rescission could be made only by the owner of the mortgaged property and was not separately assignable chose in action but was simply part of the process of rescission; and that in reserving to the investor any claim to abatement of the mortgage debt consequent on rescission section 3(b) was not cutting down the scope of the chose in action assigned to the scheme but was merely intended to make clear that the investor would not be accountable to the scheme for any abatement of the debt as a result of an action for rescission of the mortgage; that the claim form was effective to assign to the scheme the whole of the investors' claim to compensation and damages, although they retained the right to claim rescission of their mortgage on such terms as the court might consider just; and that, accordingly, the scheme would maintain the actions against the building societies and the solicitors.

Decision of the Court of Appeal reversed.”

14. In ICICI Bank Limited Vs. United Breweries (Holdings) Limited and others reported in 2015 SCC Online Bom 5913, it has been held that it is well settled position in law that while reading the contents of commercial documents, intention of the parties has to be taken into consideration. It is also well settled that apart from recitals, the main agreement itself also has to be taken into consideration.

15. In the judgment in Nabha Power Limited (NPL) Vs. Punjab State Power Corporation Limited (PSPCL) and another reported in 2018 (11) Supreme Court Cases 508 it has been held that the entire contract has to be looked into. In the judgment in Mumbai Metropolitan Region Development Authority Vs. Unity Infraproject Limited reported in 2008 SCC OnLine Bom 190, it has been held has follows :

“A business like interpretation of contractual provisions must be adopted in construing contracts entered into by persons of business to govern business dealings. The Court must ensure that interpretation of law in commercial cases must not be disjointed from the intent and object which those having business dealings seek to sub-serve.”

16. From the above judgments, it is well settled that in a commercial contract, the intention of the parties to be gathered from the entire terms of the contract as a whole. Similarly, the entire contract depends upon the condition precedent set out in the contract. The majority Award has found that such condition is a condition precedent and the date of approval cannot be equated with the date of receipt of approval. The learned Arbitral Tribunal taking note of the relevant clauses has given a finding. Infact, email dated 16.05.2014 sent by the petitioner to the respondent makes it clear that parties understood that the receipt of approval is the condition precedent and not the date of approval. Therefore, when the Majority Award analysed the facts and interpreted the terms reasonably, this Court cannot re-appreciate the evidence as an appellate Court.

17. Similarly in the judgment in McDermott International Tnc., v. Burn Standard Co.,Ltd., [2006 (11) SCC 181] wherein the Apex Court explained the term patent illegality and held that patent illegality must go to the root of the matter. Public Policy violation should be so unfair and unreasonable as to shock the conscience of the Court. The supervisory role of the Court under Section 34 is to be kept at a minimum level and interference is envisaged only in case of fraud or bias, violation of natura

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l justice, etc., If the Arbitrator has gone contrary to or beyond the express of law of the contract or granted relief in the matter not in dispute that would come within the purview of Section 34 of the Arbitration and Conciliation Act 1996. 18. It is well settled that the scope of interference under section 34 of the Arbitration and Conciliation Act is very limited. This Court cannot sit as an appellate authority to re-appreciate the entire matter and the Court can look into factual aspects and substitute its own view. Hence, the construction of the terms of the contract is primarily for the Arbitrator to decide, unless it is found that such a construction is not a possible one as held in the judgment in HRD Corporation Vs. Gail (India) Limited reported in 2018 (12) SCC 471. Similarly, in the judgment in Chennai Container Terminal Private Limited Vs. The Board of Trustees of Chennai Port Trust and others reported in 2018 (4) MLJ 385 the Division Bench of this Court has held that interpretation of a contract was a matter for the Arbitrator to determine even if it gives rise to determination of a question of law. 19. In view of the above settled position of law, when the Majority Award and the Minority Award perused, in the Majority Award the Arbitrators have considered the entire issue between the parties mainly on the basis of the Share Purchase Agreement and had also given literal meaning for the terms of the contract. Therefore, when the Arbitrators have taken note of the relevant clauses and taken a view, such a finding cannot be interfered, mainly on the basis of the alternative view passed in the Minority Award. In the Minority Award also the Arbitrator has not considered the circumstances under which specific performance could be granted. Whereas, the Majority Members have taken note of the principle of the substantial law in granting specific performance. Therefore, the petitioner has not made out any ground available under section 34 of the Arbitration and Conciliation Act to interfere the well reasoned Award passed by the Arbitral Tribunal. Further, in pursuance of the Orders passed by this Court dated 08.11.206 and 31.01.2017 in the injunction application, the petitioner has also filed an undertaking before this Court that they will compensate the respondent, in the event if there is any price variation in the value of the shares. In view of the same, it is for the respondent to work out their remedy to recover any loss sustained by them. 20. Accordingly, this Original Petition is dismissed. No cost.
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