JUDGEMENT
Aftab Alam, J. -
(1.) Leave granted.
(2.) Heard learned Counsel for the parties.
(3.) Appellant No. 1 is a public limited company incorporated and registered under the Companies Act and appellant No. 2 is one of its share holders and Managing Director. The appellants went to the Bombay High Court seeking a direction to the respondents to grant the company interest subsidy and to pay to the financial institutions/banks 5% of the amount of interest charged by them on the loans taken by the appellants for construction of their hotel at Silvassa. In support of the claim, the appellants tried to invoke the plea of promissory estoppel relying upon the Draft Seventh Five Year Plan 1985-90 and certain communications received by the company from the officers in the Department of Tourism, Dadra and Nagar Haveli, UT. The Bombay High Court rejected the appellants' claim and dismissed the writ petition (No. 2705 of 1990) by judgment and order dated November 4, 2004. The appellants then filed a review petition (bearing No. 19 of 2005). This too was dismissed summarily by the High Court by judgment and order dated March 17, 2005. This appeal is brought to this Court against these two orders.;
Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.