TaxTMI 
TaxTMI 
2012 (12) TMI 309
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.... Original Side to the credit of the suit and also directs continuation of the interim order till such deposit is made. APO No. 366 of 2010 is also taken out by the said defendant Nos. 1 and 2 in the suit challenging the aforesaid order of the learned Single Judge to the extent its permits amendment of the plaint as prayed for by the plaintiffs in the said suit in G.A. No. 407 of 2010. For an affective adjudication of the aforesaid appeals, reliefs claimed by the plaintiffs in the suit in G.A. No. 1009 of 2010 and in G.A. No. 407 of 2010 are set out herein below: In G.A. No. 1009 of 2010 the plaintiffs (being appellants in APO No. 365 of 2010) prayed for the following interim reliefs : "a) An interim order of injunction thereby restraining the respondents from taking any steps for giving effect to the Memorandum of Understanding. b) Injunction restraining the Respondents from transferring any of the Sponge Iron Plants of the respondent no.7 in any manner whatsoever. c) A special officer/Receiver be appointed over an in respect of the 275000 shares held by the petitioner in the respondent no.7 company and returned to the respondent no.1 in compliance of their obliga....
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....sclosed in paragraph 5 hereto and the books of accounts as well as records or document of the companies as mentioned in paragraph 7 and 8 hereto to take symbolic possession thereof. d) Leave be given to the plaintiff to the reverified and reaffirm and amendment claims filed in the above suit C.S. No.47 of 2008. e) Direction be given upon the department to carry out the amendment in terms of prayer A within the period of 3 weeks from the date of passing of the order. f) Direction be given upon the department we issue a fresh writ of summons. g) Returnable date of the writ of summons be extended by 11 weeks from the date of issue. h) Ad-interim orders in terms of prayers above. i) Such other and/or further order or orders be made and/or direction or directions be given as this Hon'ble Court may deem fit and proper. Alongside, the plaintiffs took out another application being G.A. No. 2423 of 2009 praying for inspection of documents seized and taken custody in the course of income tax investigation relating to the aforesaid additional family assets which they claimed were concealed by the first defendant. After a meticulous and elaborate assessment of facts and....
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.... Mr. Mitra, however, admitted that in view of the case made out by the plaintiff that the family settlement stood repudiated his clients had neither prayed nor were they interested in defending the order passed by the learned Single Judge directing the defendant nos. 1 and 2 to deposit a sum or Rs. 4 crore with the Registrar, Original Side. On the other hand, he prayed that the interim relief's as prayed for be granted. Mr. S.B. Mukherjee, learned senior advocate appearing for the defendant Nos. 1 and 2 being respondent nos. 1 and 2 in A.P.O. No. 364 of 2010 and the appellants in A.P.O. Nos.365, 366 and 109 of 2010 submitted that the learned Single Judge had correctly assessed the state of affairs inasmuch as the family settlement had been given effect to a large extent and the respective shares of the parties in the suit pursuant to the family settlement were in their substantial control. Mr. Mukherjee further contended that once the joint family status was severed in 2007, further acquisition of personal assets could not be mixed with the joint family corpus. He submitted that pursuant to the demerger of defendant no. 7 company in terms of the family settlement, proceedings....
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....ainst the exercise of discretion by the Single Judge. In such appeals, the appellate court will not interfere with the exercise of discretion of the court of first instance and substitute its own discretion except where the discretion has been shown to have been exercised arbitrarily or capriciously or perversely or where the court had ignored the settled principles of law regulating grant or refusal of interlocutory injunctions. An appeal against exercise of discretion is said to be an appeal on principle. The appellate court will not reassess the material and seek to reach a conclusion different from the one reached by the court below if the one reached by that court was reasonably possible on the material. The appellate court would normally not be justified in interfering with the exercise of discretion under appeal solely on the ground that if it had considered the matter at the trial stage it would have come to a contrary conclusion. If the discretion has been exercised by the trial court reasonably and in a judicial manner the fact that the appellate court would have taken a different view may not justify interference with the trial court's exercise of discretion." Similar....
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....fore the Company Court with regard to the prayer for sanctioning of scheme of arrangement in respect of the said defendant no. 7 company. We are therefore of the view that the learned Single Judge has come to a reasonable conclusion in the facts of the case not to grant the interim relief to the plaintiffs in the instant case and we do not choose to substitute such discretion of the learned Single Judge since the same neither appears to be arbitrary, capricious or perverse in any manner whatsoever. Accordingly APO No.365 of 2010 stands dismissed. With regard to the counter objection taken by the respondent nos. 1 and 2 in APO No. 365 of 2010 to the extent the learned Single Judge directed the said respondent no. 1 to deposit a sum of Rs. 4 crore with the Registrar, Original Side, we are of the opinion that the same requires to be interfered with. The plaintiffs neither before the trial Court prayed for in the pleading nor even supported before us, the said direction passed by the learned Single Judge. On the other hand, Mr. Mitra appearing for the plaintiffs candidly admitted that such direction ran against the tenor of the plaintiffs' case that the family settlement stood re....