- (1.) THERE shall be an order in terms of prayer (a).
(2.) AGGRIEVED by an order dated May 4, 2012 passed by learned Trial Judge in G.A. No.1191 of 2012 in C.S. 152 of 2012 the appellant has filed this appeal. By the said order the learned Trial Judge had refused to pass interim relief in favour of the plaintiff-appellant. Along with the appeal they had further taken out an application for injunction restraining respondent no.1 from further pursuing its request for arbitration made to the respondent no.8 on March 21, 2012 or from taking any further steps in connection therewith till the disposal of the appeal. We propose to dispose of the appeal and the application together. Bereft of all details, the plaintiff-appellant filed a suit before the learned Trial Judge, inter alia, for a decree and for a declaration that the arbitration agreement contained in the agreement, dated January 12, 2002, is void and/or unenforceable, a decree of permanent injunction restraining the defendant no.1 in the suit, their officers, employees, etc. from initiating and/or continuing with the said arbitration proceeding, a decree of permanent injunction prohibiting the defendant no.8 therein, its agent, officers, etc. from acting upon and further proceeding with any proceeding pursuant to the said arbitration clause in the said agreement.
(3.) THE appellant company was incorporated in the year 1985 by the West Bengal Industrial Development Corporation (for short WBIDC) and the R.P. Goenka group. After the Goenkas had left other companies were inducted and ultimately in June 1994 Dr. Purnendu Chatterjee showed interest in implementing the project. A Memorandum of Understanding was entered into the WBIDC, the Chatterjee Petrochemicals (Mauritius) Company and the Tatas. Initially, it was agreed that the Chatterjee group would control 60% shares of the appellant company. In the year 2002 there were two agreements dated January 12, 2002 and March 8, 2002 respectively. As the dispute between the parties arose the Chatterjee group approached the Company Law Board under Sections 397/398/399/402/403/406 of the Companies Act for an order directing WBIDC to transfer 155 million shares to them. This was, initially, allowed in the year 2007.;