2016 (6) TMI 388

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....Mr. C.S. Vaidhyanathan,Sr.Adv., Mrs.Prabha Swami,Adv., Mr. Nikhil Swami,Adv. And Ms. Divya Swami,Adv. For the Respondent : Dr. K.P. Kylasanatha Pillay,Sr.Adv., Mr. A.V.S. Raju,Adv., Mr. M. A. Chinnasamy,Adv., Mr. Neeraj Kishan Kaul,ASG, Mr. P. Venkat Reddy,Adv. And Mr. Prashant Kr. Tyagi,Adv. ORDER 1. Leave granted. 2. We have heard learned counsel for the parties and we are of the opi....

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....g excavation and removal of any mineral including sand in State/Central Government Undertaking or large Public Limited Companies and/or Mines of any company. 5. Respondent No. 1 viz. K.V.V.S.N. Associates had given its bid in terms of the NIT but was not considered eligible by the third respondent. Since Respondent No.1 was not eligible, the bids given by the others were opened and the tender a....

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....int out that Section 366 of the Companies Act is completely inapplicable to the facts and circumstances of the case. The provisions of Section 366 of the said Act are applicable only to that part of the Companies Act to which a reference has been made in that Section. Similarly, reliance placed for interpreting 'company' on several other statues such as the Income Tax Act, Negotiable Instruments A....

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....l affixed thereon. The position is somewhat similar in paragraph 8.2 of the NIT as well. 12. On reading of the terms of the NIT it is clear that the word "Company" can only mean a company as understood under the Companies Act and cannot be read to include a firm. The word "Company" in the NIT is incapable of any other meaning. 13. The NIT makes it absolutely clear that only an individual or ....