M/S. AMBALAL SARABHAI ENTERPRISES LTD. vs M/S. AMRIT LAL & CO.,

The Supreme Court declined to interfere with the merits of the case but set aside the order of the Calcutta High Court appointing a Receiver. The Court emphasized the need for the revival of the sick industry and directed that the appeal pending before the Division Bench be disposed of expeditiously. The Court's holding was to facilitate the revival process while ensuring that the interests of the landlord are not impeded, thereby allowing the parties to present their case on merits before the Division Bench.