UNMESH KANTILAL SHAH Vs. CHEMOSYN LIMITED

JUDGEMENT

(1.) All these are appeals under Section 10-F of the Companies Act, 1956. This common Judgment on following facts and circumstances.

(2.) As per Family Settlement Deed (FSD) dated 12/10/1999, Samir (M.D.) (66% shareholder) to buy the entire shareholding of Unmesh (33% shareholder) of a sum of Rs.6.5 crores in two phases of the various companiies between the parties. Rs.2.5 crores by 11.10.2000 resulting in the exit of Unmesh as a Joint MD, and Rs.4 crores by 11.10.01 resulting in his exit as Director.

(3.) Mr. K.H. Shah, the father of Samir and Unmesh, head of the family, founder promoter of the family company (Chemosyn Ltd.), at the relevant time Chairman of the Company and mediator in the disputes between the parties bought the stamp paper for the FSD and also signed the DSD in token of his acceptance of the role of sole arbitrator in the event of "any dispute in this matter between the parties".