1987 (4) TMI 371

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.....S. Shroff, Mrs. S.S. Shroff, B.D. Sharma and Karanjawala , for the Respondent. ORDER Chinnappa, Reddy., J.-In this application for transfer under article 139A of the Constitution, the petitioner seeks transfer of Suit No. 2995 of 1986, Suit No. 3218 of 1986 and Suit No. 2220 of 1986 pending in the High Court of Bombay to the Gujarat High Court at Ahmedabad. The three suits are actions filed by....

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....Credit and Investment Corporation of India Ltd., and the Industrial Development Bank of India and two representatives of the Government of Gujarat. The representatives of the financial institutions have now withdrawn from the managing committee and thereafter the financial institutions appear to have instituted the suits to enforce their securities. The petitioner company wants the suits filed in ....

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....plication in the Bombay High Court. We have heard elaborate arguments from both sides. We are satisfied that genuine efforts are now being made to salvage the finances and fortunes of the company. It is not the future of the company alone that is at stake; it is also the future of the 2,200 workmen employed by the company that is at stake. Any attempt to reconstruct the company will be possible on....