- (1.) The petitioner No. 1 is a Company within the meaning of the Companies Act, 1956 and carries on business of manufacturing diverse types of plywood products.
(2.) In or about March 1985 the petitioner-company agreed to purchase, and Sunitomo Corporation of Tokyo (Japan) through its agent in India Messrs. Suniti Private Limited of Calcutta agreed to sell, 100 Metric Tonnes of Phenol 99% at the agreed price of Japanese Yen 185/- per kg. C.I.F. Calcutta and on the terms and conditions as contained in the agreement dated 27th March, 1985 (Annexure 'A').
(3.) Phenol 99% is one of the ingredients for manufacturing diverse types of plywood products, which the petitioner-company uses in its factory at Tinsukia in the State of Assam.;