1999 (8) TMI 741

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....that the respondent contacted the petitioner for C.R.B. Capital Markets Ltd. It was agreed that the petitioner shall be entitled to a brokerage at the rate of Re. 0.50 per share on the deal amount. It is further alleged that the deal was clinched between the respondent-company and CRB Capital Markets Ltd. Thereafter, the petitioner had sent a bill towards the brokerage for Rs. 9,15,625 being the agreed amount, as charges for bought out deal of the 18,31,250 shares of the respondent with CRB Capital Markets Ltd. 3. It is further alleged that the respondent requested the petitioner to reduce the bill and the petitioner agreed to charge 2 per cent as against Re. 0.50 per share of the deal amount. It is also alleged that on that basis, the pet....

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....e petitioner. It is also denied that there were any negotiations between the parties, as alleged and that the brokerage amount was reduced. It is also incorporated in the reply that the letter dated 28-9-1995 was not written by any authorised officer of the respon-dent. The said letter is a procured letter, which has seen the light of the day only in the present proceedings. It is mentioned in the reply that Mr. H.S. Grover of the respondent-company, had no authority to bind the respondent-company or take any decision on its behalf. He joined the respondent-company on 6-9-1995 and left the same on 23-9-1996. He had no authority to enter into any kind of agreement with the petitioner. It is also incorporated in the reply that it is surprisin....