R.G. Shaw and Co. Ltd. Vs. Shaw Wallace and Co. Ltd. and Others - Court Judgment |
| SooperKanoon Citation | sooperkanoon.com/640649 |
| Subject | Company |
| Court | Supreme Court of India |
| Decided On | Sep-26-1986 |
| Case Number | Transfer Petition (Civil)Nos. 267-71 of 1986, S.L.P. Nos. 9322, 9329 and 11393 of 1986, C.M.P. No.s |
| Judge | R.S. Pathak, S. Natarajan and Sabysaschi Mukharji, JJ. |
| Reported in | 1986(2)SCALE1265; (1987)1SCC82 |
| Appellant | R.G. Shaw and Co. Ltd. |
| Respondent | Shaw Wallace and Co. Ltd. and Others |
Excerpt:
.....co. along with two extraordinary general meetings - shareholders shown in registers of members of company will be entitled to vote - meetings will be held notwithstanding any order, injunction passed by any court up-to-date - order is being made subject to rights and contentions of parties in this litigation which will be considered after holding of three meeting. - labour & servicesappointment: [s.b. sinha & dr. mukundakam sharma, jj] appellants amongst others rank listed by public service commission on requisition made by state no vacancy, however, filled by state - state passing order that no vacancy exists - order challenged by some rank listed candidates - high court on finding that vacancy position was wrongly reported directing state to appoint rank listed candidates - writ.....order1. we have heard learned counsel for the parties. we are of the view that the reports submitted by the chairman of the meetings should be accepted and the resolutions passed at the meetings should be given effect to. we accordingly do so.2. the board as constituted after the election will take charge of the affairs of the company and discharge its duties in accordance with law it is open to the reconstituted board to co-opt any person in accordance with law for the purpose of managing the affairs of the company.3. this order should not be construed as affecting the rights of the parties with regard to the ownership of the shares.4. these matters are disposed of accordingly.
Judgment:ORDER
1. We have heard learned Counsel for the parties. We are of the view that the reports submitted by the Chairman of the Meetings should be accepted and the resolutions passed at the Meetings should be given effect to. We accordingly do so.
2. The Board as constituted after the election will take charge of the affairs of the Company and discharge its duties in accordance with law It is open to the reconstituted Board to co-opt any person in accordance with law for the purpose of managing the affairs of the Company.
3. This order should not be construed as affecting the rights of the parties with regard to the ownership of the shares.
4. These matters are disposed of accordingly.