The Supreme Court⚖ has fined 3⃣ firms, including a German company, for engaging in multiple litigations in a dispute related to shares for the past 18 years. A fine of ₹75 lakh💰 was handed to the firms as the SC came down heavily😡 on the practice by the firms of abusing the judicial process by resorting to half-truths, misleading representations and suppression of facts😳. A SC Bench imposed a cost of ₹25 lakh each on a German company Messer Griesham GmbH(MGG), Goyal Gases Ltd (GGL) and Bombay Oxygen Corporation Ltd (BOCL) owned by Shyam Madanmohan Ruia and brothers🙆.
In 1995, the German firm MGG entered into a share purchase and cooperation agreement with the shareholders of GGL. Subsequently, MGG entered into a similar agreement with BOCL, in a move that was objected to by the GGL✊, which led to the legal battle⚔.