LAWS(SC)-1983-5-17

GUJARAT STATE FINANCIAL CORPORATION Vs. LOTUS HOTELS PRIVATE LIMITED

Decided On May 03, 1983
The Guj. State Financial Corpn. Appellant
V/S
M/S. Lotus Hotels Pvt. Limited Respondents

JUDGEMENT

(1.) How a public sector corporation set up to give impetus to industrial development of the country, a promise of planned economy aimed at job expansion to liquidate the course of unemployment, and larger production helping price stabilisation acts in a manner contrary to its raison d'etre and becomes counter-productive is aptly illustrated by the facts of this case.