BISHANDAYAL AND SONS vs STATE OF ORISSA

The Supreme Court held that a concluded contract for the sale of the Mayurbhanj Spinning and Weaving Mills, including land and assets, was not established due to the lack of formal agreement and compliance with statutory requirements under the Civil Procedure Code. The Court emphasized that mere correspondence does not constitute a binding contract without adherence to necessary legal formalities. The appeal was dismissed, affirming the lower court's decision that no enforceable contract existed between the parties.