NATIONAL TEXTILE CORPORATION LTD. & ORS. vs SITARAM MILLS LTD. & ORS. ETC.

The Supreme Court examined whether the surplus lands of Shree Sitaram Mills were part of the 'assets in relation to the textile undertaking' under Section 3(2) of the Textile Undertakings (Taking Over of Management) Act, 1983. The Court held that the Real Estate Division was not a separate business, and thus the surplus lands were integral to the textile undertaking. The judgment affirmed that the financial distress of the mill necessitated the inclusion of these lands as assets for management takeover.