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58
PRATAP BHOGILAL - JOURNEY THROUGH LIFE
the money to buy us out. I suggested that since they had a good reputation in the trading business, they could easily raise a loan from any bank. They did not want to do that. I had then offered Rs. 350 for a 100-rupee share, which I thought was a generous offer. But they turned it down. Finally, they filed a case in the Bombay High Court for 'minority oppression. It was a long-drawn, hard-fought case, perhaps the first of its kind.
We approached eminent counsel Nani Palkhiwala to represent us in the case. Unfortunately, he was too preoccupied at the time, and said he could not devote the necessary time since it would be a long-drawn case. So we engaged Ashoke Sen as the senior advocate to represent us with Fali S.Nariman and two other junior advocates to assist him. S.R. Vakil, who was a partner in the solicitors' firm, Mulla and Mulla, was our solicitor (Vakil later joined the Tatas as a legal advisor). I along with S.R. Vakil and our SRM secretary, B.C. Shah worked hard with Fali Nariman and S.R.Vakil. In any litigation, you must be well prepared with your side of the case. The solicitor and the advocates depend on you for the full facts. It was Fali Nariman who prepared the reply to the petition on Minority Oppression, which, I believe, was vetted by Ashoke Sen.
The case went on for a couple of years in the Bombay High Court. The decision of the single judge (Justice Vimadalal, if I remember right) went against us. Many felt that it was a case of misjudgement. We then approached the Appellate Court. The case came up for hearing before Justice Nalin Mody who suggested an out-of-court settlement. We were agreeable.Our solicitor then was Petigara of Mulla & Mulla. Our opponents were represented by Vasantbhai from the firm of Malvi Ranchhod Das. Their solicitor met us in Petigara's office along with the Menghraj brothers. I offered to pay Rs.250 per share instead of the Rs.350 which I had offered before they went to court. So, there was no settlement. Justice Nalin Mody opted out of the case as he knew me personally, since we were playing Bridge at Willingdon Club. The case then came up before Justice Tulzapurkar. The opponents' counsel Gordhandas took eight days to present their case. After hearing out the presentation, our counsel Ashoke Sen made some brief remarks and said Fali Nariman would give a detailed
The gross heathenism of civilization has generally destroyed nature and
poetry and all that is spiritual - John Muir
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