BHAGWATI DEVELOPERS PVT. LTD. vs PEERLESS GEN.FINANCE INVEST.CO.LTD.&ANR.

The Supreme Court addressed the dispute between Bhagwati Developers Pvt. Ltd. and Tuhin Kanti Ghose regarding the transfer of shares and repayment of a loan. The Court held that the agreement dated 21st November 1994, which acknowledged the sale of shares and the entitlement to bonus shares, was valid and enforceable. The Court affirmed the lower court's decree in favor of Bhagwati, emphasizing the binding nature of the compromise agreement under the Indian Contract Act, 1872, particularly Sections 10 and 11.