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Judgment
V.S. Deshpande, C.J.—In this petition, the petitioner, which is an Indian company, along with another Indian company, W. S. Atkins Private Ltd., entered into an agreement with the Industrial Development Corporation of Orissa Ltd. on April 5, 1972, for giving the latter a techno-economic feasibility study of the project with a view to enabling the Industrial Development Corporation of Orissa Ltd. to take investment and other related decisions on the project of setting up of a sponge iron plant with electric steel-making and continuous billet casting plant in Orissa. The approval to this agreement u/s 80MM of the I.T. Act was refused by the respondent-Board on the ground that such a techno-economic feasibility study is not technical know-how within the meaning of Section 80MM. The very meaning of technical know-how is the knowledge which would enable the personnel of the company to which the knowledge is imparted to do a thing and the agreement for imparting technical know-how is to give them technical knowledge to do the project. The order refusing the approval is, Therefore, quashed and the Board is directed to reconsider the application of the petitioner. The writ petition is allowed in the above terms with no order as to costs.