OSWAL AGRO MILLS LIMITED Vs. OSWAL WOOLLEN MILLS LIMITED
HIGH COURT OF DELHI
OSWAL AGRO MILLS LIMITED
OSWAL WOOLLEN MILLS LIMITED
Click here to view full judgement.
SANJAY KISHAN KAUL, J. -
(1.) The parties to the present petition with all good intentions started a business dealing which has got soured. Both the companies were under the control of the same original family but due to the internal family disputes, came to be controlled by different groups of the family. The present dispute appears to be really a reflection of the family dispute.
(2.) The petitioner, Oswal Agro Mills Limited is engaged in the business of manufacturing and trading in vegetable oils, soaps, chemicals and petrochemicals etc. The respondent is also carrying on the business of manufacturing and trading of vegetable oils, woollen and related products. The parties entered into an agreement dated 30.3.1982 in terms whereof the petitioner was appointed by the respondent as its agent under the Import Export Procedure Handbook 1981- 82 for advising, assisting and guiding the respondent to import materials under the REP licenses. The goods to be imported were Crude Palm Kernal Oil. There were 9 REP licenses in question for an aggregate CIF value of Rs.1,85,95,100/-. In terms of clause 4 of the agreement, the petitioner was to be paid a remuneration of 5% of the CIF value of the goods imported along with all cost and expenditure incurred for import of the material.
(3.) This agreement was followed by another agreement dated 13.9.1982 in terms whereof it was agreed that the material imported by the petitioner under the REP licenses on behalf of the respondent would be sold by the respondent to the petitioner after carrying out processing of oil at its factory premises. The oil after processing would be Palm Kernal Oil. The sale price of this processed oil by the petitioner was agreed to be the actual reimbursement of the landed cost of the imported oil plus 25% of CIF value of the imported material towards manufacturing charges.;
Copyright © Regent Computronics Pvt.Ltd.